Please note – For your safety & the safety of our employees the City of Roanoke Department of Economic Development will be operating by appointment only at this time. Please call us at 540-853-2715 or email firstname.lastname@example.org with details of how we can assist you & the appropriate Economic Development Specialist will contact you.
COVID-19 recovery continues as the Commonwealth has transitioned into Phase Three of reopening. This page is designed to provide a synopsis of resources for businesses impacted by COVID19. New statewide measures have been put in place, as of November 16, 2020, to contain COVID-19. All public and private in-person gatherings are limited to 25 people, this includes outdoor and indoor settings. All Virginians aged five and older are required to wear face coverings in indoor public spaces. All essential retail businesses, including grocery stores and pharmacies must adhere to guidelines for physical distancing, wearing face coverings, and enhanced cleaning. The Virginia Department of Health will enforce violations of the guidelines. Violations are a Class One misdemeanor. The on-site sale, consumption, and possession of alcohol is prohibited after 10 p.m. in any restaurant, dining establishment, food court, brewery, microbrewery, distillery, winery, or tasting room. All of these businesses must close by midnight and bar seating is not permitted. Overnight camps are closed and recreational sports require physical distancing. Governor Ralph Northam is directing teams made up of health departments, VA ABC, Department of Agriculture and Consumer Services, and other licensing agencies to conduct unannounced visits to businesses to ensure COVID-19 restriction compliance.
Rebuild VA Grants – Application process currently open.
Governor Ralph Northam has increased the maximum grant award to $100,000 for the Rebuild VA grant program. Rebuild VA assists small businesses in losses and costs related to COVID-19 by providing grants of up to 3 times the applicant’s average monthly eligible expenses, not to exceed $100,000. Learn more about this opportunity.
Informational Flyers in Multiple Languages:
Additional Grant Opportunity
LISC Small Business Relief Grant: Awards will be made to qualified businesses, and eligibility is based on accurate and complete submission. Priority will be given especially to entrepreneurs of color, women- and veteran-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital.
Local Business Loan Opportunity
The City of Roanoke, Roanoke Economic Development Authority, and Total Action for Progress partner to offer small business loans.
The Coronvirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law by the President on March 27, 2020. The $2.2 trillion package provides relief to workers and small businesses through loans, some which are forgivable.
Paycheck Protection Program
The Paycheck Protection Program provides loans for payroll expenses if businesses under 500 employees retain their workers. The Small Business Administration (SBA) will forgive loans if all employees remain on the payroll for eight weeks and the loan is used for payroll, rent, mortgage interest, or utilities. If employees have already been terminated, business owners can apply for a loan if the employees are rehired. Loan payments are deferred at least six months and up to one year. Applications requesting loan forgiveness can be submitted eight weeks after loan approval. Loans are available through any existing SBA 7(a) lender or through any participating federally insured depository institution, federally insured credit union, Farm Credit System institution, and other regulated lenders enrolled in the program. Find a Participating Lender
Economic Injury Disaster Loan (EIDL)
The SBA’s EIDL provides economic support through loans to small businesses to help recover the temporary loss of revenue experienced by COVID19. This program is for any small business with less than 500 employees, private non-profit organizations, 501(c)(19) veterans organizations, or tribal businesses. Business owners can receive an advance of up to $10,000, a portion of the loan which is forgivable.
What are your needs?
We know, you, our business owners are trying to determine how to maintain during this difficult time, and your time is valuable. The surveys below are offered by the Roanoke Department of Economic Development and Roanoke Regional Partnership. Please take a few minutes to complete the surveys. This information will help determine your needs.
Visit Virginia’s Blue Ridge also has a survey to assess the needs of businesses in the hospitality industry. Again, please take the time to complete this survey if it pertains to your business. This information is valuable in determining the path to recovery.
Open a Bank Account
During this time, it is crucial for citizens to have bank accounts. A bank account allows citizens quicker access to their wealth through direct deposit of payroll checks, direct deposit of state and federal tax refunds, and direct deposit of stimulus checks. If your employees do not have a bank account or do not have a bank account that meets their financial needs, they are encouraged to visit the link below, which includes information about the Bank On Roanoke Valley (BORV) Program. BORV offers bank accounts with nominal or no fees, and can assist customers who may have difficulty attaining bank accounts due to a barrier such as poor credit history.
Citizens who have bank accounts, but did not file tax returns in 2018 or 2019 can enter their bank account information to receive stimulus checks electronically, giving them quicker access to their wealth.