The City of Chesapeake, along with its Economic Development Authority and Economic Development Department, has announced a Startup Grant Opportunity in Chesapeake for businesses affected by the COVID-19 pandemic. The third round of the Chesapeake COVID-19 Recovery Grant, which opened on February 1, 2021, offers up to $10,000 to eligible small, for-profit businesses. To qualify, businesses must have been operational since March 1, 2019, made efforts to remain open and maintain employment during the pandemic, and be up-to-date on city taxes. Preference will be given to businesses that are SWaM certified, veteran-owned, located in low-to-moderate income areas, and employ low-to-moderate income individuals. The grant funds are to be used for operational working capital to sustain the business and retain employees.

Introduction

The City of Chesapeake, their Economic Development Authority (EDA) and the Chesapeake Economic Development Department, will be opening a third round of applications for the Chesapeake COVID-19 Recovery Grant. Chesapeake opened the online applications on Monday, February 1st, 2021.

Eligibility Criteria

Eligible Businesses

Grant awards will be based on the most recent payroll for those that have met the following conditions:

  1. Have made efforts to remain open and retain employees during the COVID-19 outbreak;
  2. Must have been in business since March 1, 2019; and
  3. Are up to date on City of Chesapeake taxes and have registered with the Commissioner of Revenue for 2020.

Funding Information

Funding

The program may provide a grant up to $10,000 per eligible small, for-profit business impacted by COVID-19.

Grant Usage and Application Guidelines

Grant Usage

Grant funds must be used for operational working capital used to sustain the business and maintain employment. The grant funds will be issued on a reimbursement basis whereby the applicant can clearly demonstrate that expenses have been paid.

EDA Application Guidelines

Preference will be given to the following types of businesses:

  1. Businesses making all efforts to remain open and keep as close to full employment as possible.
  2. Small, Woman, and Minority (SWaM) certified or SWAM-eligible businesses.
  3. Veteran-owned businesses.
  4. Businesses that are located in low-to-moderate income census tracts in the City of Chesapeake.
  5. Businesses that employ low-to-moderate-income persons (at least 50% of the workforce must qualify).

Contact Information

The Chesapeake Economic Development Department remains committed to helping the business community find success.

For questions, please contact the Economic Development Department directly at (757) 382-8040 or visit our COVID-19 page on our website: chesapeakeva.biz/covid19

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Question & Answer

What is the Startup Grant Opportunity in Chesapeake for businesses affected by COVID-19?

The Startup Grant Opportunity in Chesapeake offers up to $10,000 to eligible small, for-profit businesses affected by the COVID-19 pandemic.

What are the eligibility criteria for businesses to qualify for the Chesapeake COVID-19 Recovery Grant?

Businesses must have been operational since March 1, 2019, made efforts to remain open and maintain employment during the pandemic, and be up-to-date on city taxes to qualify for the grant.

How can the grant funds be used by businesses?

The grant funds must be used for operational working capital to sustain the business and retain employees. The funds will be issued on a reimbursement basis.

What types of businesses are given preference for the Chesapeake COVID-19 Recovery Grant?

Preference is given to businesses that are SWaM certified, veteran-owned, located in low-to-moderate income areas, and employ low-to-moderate income individuals.