BEGAP Award Increase
Agency of Commerce and Community Development To get more money to flood damaged organizations, the state is increasing Business Emergency Gap Assistance Program (BEGAP) awards for most recipients, and the change will be retroactive.
The previous BEGAP formula awarded most grantees 20% of their net uncovered damages (damages less insurance proceeds, donations, or other grants) with a cap of $20,000. This shift in the program would allow up to 30% of net uncovered damages and remove the $20,000 cap. For businesses that suffered more than $1 million in damages, they would be eligible for 20% of net uncovered damages with a $500,000 cap.
Previous BEGAP awardees need to take no action. They will automatically receive a supplemental payment to bring their award up to 30% of net uncovered damages. Current and future applicants will be eligible for 30%.
If submit a BEGAP application, please be sure it is thorough. About 20% of all BEGAP applications received are deemed incomplete and sent back to the applicant for revision, significantly delaying processing. There are Technical Assistance resources on the BEGAP web page if you need extra help.
Governor Scott convened the Vermont Emergency Board at 10:30 a.m. on Thursday, September 21 to move forward with the changes, which began immediately following.
New Humanities Grant
Vermont Humanities has launched the Vermont Cultural & Humanities Flood Recovery Fund. The $400,000 emergency grant program is for nonprofit cultural and humanities organizations that suffered physical or economic damage due to the severe weather events that began on July 10, 2023. Vermont Humanities expects to award grants ranging from $5,000 to $15,000 depending on need.
Applications will be accepted until all funding is expended. Funding decisions will be communicated on October 15th and November 15th.
You can learn more about the program, sign up for a one-on-one consultation, or apply today. You can also donate to the Vermont Cultural & Humanities Flood Recovery Fund.
New SBA Disaster Loan Outreach Center
The SBA opened a new Disaster Loan Outreach Center in Middlebury to help people in Addison County access low-interest federal loans. Eligible businesses and residents must have suffered damage from severe storms, flooding, landslides, and/or mudslides between July 7 and July 17, 2003.
The Disaster Loan Outreach Center - Addison County will remain open six days a week until early October. Hours are below. Walk-ins are welcome.
Disaster Loan Outreach Center - Addison County
Addison County Economic Development Corp.
1590 Route 7 South
Middlebury
Hours: Monday through Friday, 9 a.m. to 6 p.m.
Saturday, 10 a.m. to 2 p.m.
Closed: Sundays
Closing Permanently: Tuesday, Oct. 3 at 4 p.m.
The SBA declared Addison County a disaster under the Disaster Assistance for Rural Communities Act after it received a request from Governor Phil Scott.
*If this is the first time you are receiving this newsletter from ACCD, you have been added as part of reporting your business damages to Vermont 211. If you would prefer not to receive updates from ACCD on business resources related to this flooding event, you can unsubscribe below.
Agency of Commerce and Community Development
1 National Life Dr
Montpelier, VT 05620-5001