Amherst County creates small business relief fund

Amherst County launched a grant program for small businesses suffering economic downturns due to the coronavirus epidemic, the county announced Tuesday.

Amherst supervisors designated $300,000 in federal CARES Act funding, which will be administered by the county’s Economic Development Authority. Applications are being accepted now for locally owned, for-profit businesses in the county for payroll, rent, utilities, restarting expenses and marketing.

The grants include:

• Up to $25,000 for Amherst-owned and operated businesses with 21 employees or more
• Up to $10,000 for Amherst-owned and operated businesses with no more than 20 employees
• Up to $5,000 for businesses in the county that are not owned locally

Eligible businesses must have been in operation since March 1, 2019, with a physical location in the county. They must be current on taxes and have a current town or county business license if required. One owner must reside in the county to be defined as “locally owned.” Businesses also must have lost more than 10% in revenue compared to the same month or quarter as the previous year, and banks and financial institutions are not eligible.

Applications and more information are available at the EDA website.

Subscribe to Virginia Business.

Get our daily e-newsletter.