Salem Small Business Assistance Grant Program Relaunched
In our continuing efforts to assist businesses grappling with the financial impact of COVID-19, the City of Salem’s Economic Development Authority (EDA), has established a second Small Business Assistance Grant Assistance Program.
These $5,000 grants are administered by the City of Salem through its EDA and are intended to support Salem’s small businesses, as they continue to recover from the adverse impacts of the pandemic.
The U.S. Treasury guidance allows states to use Coronavirus Relief Fund (CRF) dollars for expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.” The Commonwealth of Virginia has elected to disperse a portion of its allocation to local governments. Salem City Council has elected to use part of its allocation to help preserve small business throughout Salem by providing grants to eligible businesses.
ELIGIBLE GRANT USES:
Grant funds must be expended in compliance with state and federal law. Funds may be used to reimburse the cost of business interruption caused by required closures, which may include:
• Operations (i.e., payroll, rent, supplies, working capital, insurance, etc.)
• Pivot to respond to new market conditions (i.e., develop or expand online sales/e-commerce, delivery or take out; develop new product line, etc.)
• Equipment and inventory purchases
• Rent or mortgage expenses
• Deep cleaning services, PPE, protective barriers, etc.
• Other critical operating expenses
The electronic applications can be accessed on the City of Salem Economic Development web page at www.salemva.gov/Departments/Economic-Development. Hand delivered applications will not be accepted. Grant applications must be completed and received no later than November 30, 2020. For more information contact Salem Economic Development at email@example.com or at 540-375-3007.