-A +A

$45 million in grants to Vermont businesses out the door

Submitted by tim on

Economic Recovery Grants Update

The Vermont Agency of Commerce & Community Development has announced that the first economic recovery grant payments are being sent to Vermont businesses as of today. Between ACCD and the Vermont Department of Taxes, $45 million is now on the way to Vermont businesses in need. Applications are continuing to be processed, but there is still money available.

Funds are available to Vermont businesses who can demonstrate a revenue decline of at least 50% in any one-month period from March 1, 2020 to August 31, 2020, when compared with the same month in 2019. The Economic Recovery Grants landing page has full details, including eligibility requirements, document preparation instructions, and a series of FAQs to assist businesses in completing the application.

Between the Tax Department grants (targeted for restaurants, retail, hospitality) and ACCD grants (for general business and nonprofits) there is nearly $170 million in grants available.

Notice of Available Technical Assistance Funds

ACCD has issued a Notice of Funds Available for Small Business Recovery Technical Assistance. Through this Notice of Funds Available (NOFA), ACCD seeks expert concierge services to assist small businesses assess challenges and utilize technical experts to address those business challenges as a result of COVID-19. Questions related to this NOFA are due this Friday (July 24) by 1:00pm. The deadline for proposals is August 3rd at 1:00pm.

Sole Proprietor Grants Application Now Live

The Sole Proprietor Stabilization Grant Program is now accepting applications for grants of $5,000, $7,500 or $10,000 to qualifying sole proprietors through a lottery draw. The program is funded through $1.5 million from the U.S. Housing and Urban Development’s CDBG Program, and passed through ACCD. The application window will be open until July 31, 2020 and grants will be awarded through a lottery system on August 14, 2020.

Full details can be found on the program portal, including the program breakdown, eligibility requirements, application materials and timelines, as well as technical assistance and FAQs.

Agency of Agriculture, Food & Markets Webinars

The Vermont Agency of Agriculture, Food & Markets (AAFM) is hosting webinars this week to help dairy farmers, producers, and industry support businesses navigate the application process for the COVID-19 Agriculture Assistance Program. $25 million is available for businesses through the federal Coronavirus Relief Fund. For more information on the program and a schedule of upcoming webinars, visit the AAFM website.

I Wear a Mask Because…

The State of Vermont continues to work to educate Vermonters on the importance of wearing masks to help slow the spread of COVID-19. The Vermont Department of Health has created a toolkit of resources including social media content, newsletter content, and printable posters to help spread the word about mask wearing. If you would like to access these resources for your business, whether to tailor the message to your sector or to hang posters in your business, please contact the State Emergency Operations Center for more information at [email protected].

Business Impact

ACCD wants to hear from all Vermont businesses impacted by the response to the COVID-19 virus. Please share these impacts via the ACCD Business Impact Form, which will help us assess the full impact as we work toward solutions.

Source: Vermont Agency of Commerce & Community Development 7.22.2020