The Open for Business – Recovery Assistance Grant has been made available by Wythe County, Town of Wytheville and Town of Rural Retreat through Coronavirus Aid, Relief, and Economic Security (CARES) Act funding and the Community Development Block Grant (CDBG) funding awarded from the Virginia Department of Housing and Community Development (DHCD). Administration of the grant program is provided by Downtown Wytheville Incorporated, Joint Industrial Development Authority of Wythe County, Visit Wytheville, and Wytheville-Wythe-Bland Chamber of Commerce on behalf of the localities.
The grant program provides one time, emergency funding to eligible, for-profit businesses located in Wythe County to assist with unplanned costs incurred as a direct result of business disruptions due to the coronavirus (COVID-19). Limited funds are available. Applications must be submitted with all required documentation, as listed below, for consideration.
Below you will find information about the grant program guidelines. Applications will be accepted on a rolling basis until funds are exhausted. Financial statements are required as are some basic qualifications including a statement of impact from COVID-19. Acceptable uses of the financial assistance include operational expenses like rent, payroll, and utilities, as well as purchase of inventory and marketing.
Open for Business Grant Fund Guidelines
Wythe County businesses meeting all the following eligibility criteria are encouraged to apply:
Must be an existing for-profit business, locally owned and operated in Wythe County
Must demonstrate that they were operational pre-COVID-19 (March 1, 2020)
Must be current on all local taxes, business licenses, and public loans (including but not limited to the JIDA Revolving Loan Fund) as of March 1, 2020
Must demonstrate impacts due to COVID-19, (e.g., revenue loss, reduced sales, closure or suspended operation, employment decline, business interruption)
Businesses may qualify for one or both of the below grant categories:
Grant awards will be determined by revenues demonstrated through financial documents such as, but not limited to, tax returns, profit and loss statements, balance sheets, the provided financial spreadsheet, etc. Revenue based awards have no employment limits.
- Annual Gross Revenues of $5,000 to $29,999 are eligible for a grant in the amount of $2,500;
- Annual Gross Revenues of $30,000 to $49,999 are eligible for a grant in the amount of $5,000;
- Annual Gross Revenues of $50,000 to $199,999 are eligible for a grant in the amount of $7,500;
- Annual Gross Revenues $200,000 to $3 million are eligible for a grant in the amount of $10,000.
Revenue: Total company income to include gross receipts, rents, and royalties.
Award criteria is subject to change based on demand.
Grants of up to $10,000 for a maximum of six months are available for rent and mortgage relief.
- Businesses with 20 or fewer employees (full time equivalents - FTE) are eligible. For this purpose, two part-time employees will count as one full time equivalent.
- Funds will be distributed on a reimbursement basis from April 1, 2020, forward with proof of payment and verification.
- A check will be written upon award for rent expenses incurred to date.
- If a business has not met the six month or $10,000 limit, relief may also be granted for future rent - and mortgage payments extending beyond the date of application through the end of 2020.
- Subsequent checks for future payments may be issued through reimbursement requests after those rent or mortgage payments have been made.
Awards for businesses in the Town of Rural Retreat will be based on the merit of and need presented in the application, up to $15,000.
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 COVID-19, which may include:
Rent or mortgage expenses
Operations (i.e., payroll, 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
Deep cleaning services, PPE, protective barriers, etc.
Other critical operating expenses
INELIGIBLE GRANT USES
Grant funds may not be used for:
Payment of town or county utility expenses (e.g., water and sewer bills) Other utility bill payments are acceptable
Payment of state, county, or town taxes
The same use as previously received CARES Act funding (ex: if the business has received PPP funds, they may not use this grant to cover payroll for the same time period)
The following businesses are not eligible:
Businesses not currently in operation or are permanently closed
Banks and financial services
Charitable, religious, governmental, or other non-profit organizations
Independent contractors operating multilevel or network marketing businesses (e.g., Avon, Mary Kay, Pampered Chef, Sabika, etc.)
Franchise businesses, except those franchises which are locally owned and operated
Businesses engaged in speculation or investment in rental real estate
Businesses determined ineligible under SBA guidelines listed here: https://www.sba.gov/partners/lenders/7a-loan-program/terms-conditions-eligibility#section-header-19
HOW TO APPLY
Businesses can access the application and attachments below. Applications may be submitted by email to email@example.com, or mailed or delivered to the Joint Industrial Development Authority office located at:
190 South 1st Street
Wytheville, VA 24382
Copy of 2019 federal business tax returns
Monthly financial statements for the first six (6) months of 2020 including profit & loss and balance sheet
Financial Impact Statement (spreadsheet provided below)
W-9 Form (form provided below)
If applying for rent and mortgage relief, please complete the Rent and Mortgage attachment. This grant category requires businesses to provide the payment agreement and proof of payment for reimbursement of rent and mortgage payments made from April 1, 2020 until the time of application. Reimbursements will be made only for the amounts already paid. Future payments may be reimbursed through the end of 2020 with required documentation. Applicants could be awarded up to $10,000 for both reimbursements and future payments of rent and mortgage.
Applications are subject to verification. Application submission does not guarantee grant awards. Each application must be accompanied by all required documentation to be eligible for consideration. Complete applications will be accepted and considered immediately, and grants will be awarded until funds have been depleted. Grants from government entities are generally considered income and therefore taxable – please consult with your accountant or tax preparer for more information.
Please contact a participating partner with questions or for assistance with the application
180 W. Main St., Wytheville, VA 24382
Joint IDA of Wythe County
190 S. First St., Wytheville, VA 24382