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Posted on: August 12, 2020

Media Release: City of Colonial Heights Small Business Grant Fund

City of Colonial Heights

Economic Development Authority Media Release

FOR IMMEDIATE RELEASE


City of Colonial Heights Small Business Grant Fund

Colonial Heights, VA- The City of Colonial Heights Economic Development Authority (EDA) established a Small Business Disaster Fund grant program in response to the COVID-19 pandemic. At the June 9th City Council meeting, Council approved $500,000 from CARES Act funding to be used for small business grants in an effort to assist the small business community. Mayor Greg Kochuba stated, “We want to assist our businesses as much as possible because we know they have been seriously impacted by the pandemic.”

After a successful first round, which was completed on July 15th, the EDA will begin a second round of grants with more opportunity for financial relief by adding a third level which will assist employers with 31-50 employees. The third level will be eligible to receive $10,000. The second round of grants will begin August 10, 2020 with a deadline of October 1, 2020. This grant program provides funding that can be used for retaining employees, operational expenses, and inventory.

Levels for employer grant funding are as follows:  Level 1, 1-15 employees $5,000.; Level 2, 16-30 employees $7,500; and Level 3, 31-50 employees $10,000.

Robert Wade, Chairman of the City’s EDA said, “This is a great opportunity for the EDA to play a role in promoting and facilitating economic development in the City through the small business grant program. Our small businesses play a major role in creating a sense of community.”

For additional information on the COVID-19 Small Business Grant Program or request an application, email EDA@colonialheightsva.gov or call (804)898-3002.

EDASmallBusinessGrantInfo2ndRound

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