The Roanoke City Council and the Roanoke Economic and Industrial Development Corporation are launching a stimulus program to help businesses negatively affected by the coronavirus pandemic.
Many local businesses were forced to close or significantly reduce service in mid-March because of pandemic-related orders and disaster declarations. Some of them have been allowed to partially reopen, but others remain closed two months later.
This week, City Council approved an agreement to fund up to $200,000 to the stimulus program for small businesses in Roanoke that are independently owned and operated, with a maximum of 50 employees, according to a news release from the city. Eligible industries include brick-and-mortar retail, food and beverage, personal care, education training, health and wellness, art galleries and small manufacturing businesses. National chains, home-based businesses, permanently closed businesses and nonprofits are not eligible for the grant.
Eligible businesses must be able to demonstrate that the business was profitable prior to the COVID-19 outbreak and that they have experienced a loss of income since then, according to the city. If the business does not own the building or the land where the business is located, they will be required to affirmatively declare that they were not in arrears on rent prior to February 29, 2020 and they must provide their landlord’s contact information. Each applicant may request up to $3,000.
Click here for more information.