More small business help in Newport News
City offering grants to those hurt by the coronavirus pandemic
Small businesses in Newport News hurt by the pandemic will be able to apply for assistance grants from the city and the economic development authority.
Businesses can submit applications starting at 9 a.m. Monday, and eligible applicants will receive grants on a first-come, first-served basis, according to a news release.
There will be two grant categories: Back to Business grants that can be worth up to $5,000 and Grow Your eBusiness grants that can be worth up to $2,500. The grants are designed “to help businesses recover from financial losses due to COVID-19” and “help businesses impacted by COVID-19 with website and ecommerce initiatives,” according to the city website.
These make up the second batch of grants the EDA and city have offered during the pandemic. In May, they gave out $500,000 in resiliency grants, and demand for the grants was high. Officials said they received more than $1 million in requests in just two days.
Businesses that received resiliency grants are not eligible for the “Back to Business” grants, but they can apply for an eBusiness grant. The criteria for eligibility remains largely the same — applicants must be in the city, have opened before this year and be in good standing with city taxes.
However, these grants expand the scope of potential applicants by allowing larger businesses to apply. Resiliency grants were limited to businesses with less than $2 million in gross receipts in 2019 and fewer than 25 employees prior to March. The Back to Business and eBusiness grants are available to businesses with up to $5 million in 2019 gross receipts and up to 50 employees.
The eBusiness grants are intended to incentivize new online business services and come with additional requirements. The funding must support e-commerce consultation services, web design or development, internet marketing, e-commerce tools or systems or some other approved online initiative.
More information about the grants and the applications for each grant will be available on the Department of Development’s website.