New River Valley Small Business Relief Program

Second Round of program has opened April 27 through May 21, 2021

Small Business Relief Program

The Counties of Floyd, Giles, Pulaski, and Montgomery have jointly established a regional $1.6 million fund, known as the New River Valley Small Business Relief Program to support the region’s small business recovery and resiliency efforts following the COVID19 outbreak. Funds for this program have been provided by Virginia’s Department of Housing and Community Development as part of a Community Development Block Grant award to assist localities mitigate the impacts of COVID-19 on the regional economy. Due to this funding source, we are unable to offer funds to businesses based in the towns of Blacksburg and Christiansburg, as well as the City of Radford.

Funds of up to $15,000 are being provided to eligible businesses within the region to offset business impacts.

This program will be administered by Giles County, on behalf of its neighboring communities, under the oversight of a regional Application Review Committee and Project Management Team.

PROGRAM GUIDELINES  Each business must complete and submit an application attesting to information and guidelines.

Up to $15,000 per business for rent or mortgage, eligible supplies, or equipment,from March 12, 2020 to the application date. Only one (1) award per business establishment/location will be awardedCopies of receipts or paid invoices for eligible expenditures must be presented in order to obtain funding. Funds will not be awarded for specific expenses already covered by funds received from other sources. Applications will be accepted now and awards will be made until funds are exhausted

ELIGIBLE BUSINESSES Funds must be expended in compliance with strict state and federal laws. The aim of the program is to help businesses meet their long-term goals by adjusting to COVID-19 demands.

To be eligible, an applying business must meet all of the following:

Principal place of business is located in one of the following: Floyd County and town within, Giles County and towns within, Montgomery County except for Blacksburg and Christiansburg, Pulaski County and towns within.

Business is locally or regionally owned and must be located in the New River Valley.

Has 20 or fewer full-time equivalent (FTE) employees(40 hours/week.)at the application date.

Business was operational by March 12, 2020 and is realizing a direct negative impact from COVID-19 (e.g. revenue loss, reduced sales, closure or suspended operation, employment decline, or business interruption).

Has eligible expenses not already covered by other CARES funding or any other support funding source(e.g. PPP, local COVID-related grants, Rebuild Virginia grants, etc.)

Must be current on all fees, permits and taxes as of March 12, 2020

ELIGIBLE EXPENSES: 

Rent or mortgage payments (up to 6 months’ worth, between March 12, 2020 and application date)

Expenses paid that were directly related to COVID-19,from March 12, 2020 through application dateEquipment purchased since March 12, 2020 to maintain business to help business maintain social/physical distancing

PPE Expenses for employees or customers, purchased since March 12, 2020 and used in place of business to sustain business operations

Technology or subscriptions to assist navigating the ongoing public health situationup to $2,000Cleaning or maintenance supplies or services

Interested businesses are encouraged to reach out to their local Tourism Office to discuss eligibility and answer any questions. Applications are being accepted now and will be reviewed with funds disbursed on a rolling basis.

** We encourage application through the ONLINE Application link below.**

Hard-copy applications are also available

In Floyd County, hard copy applications are available at the Floyd Tourism Office (Floyd Visitor Center), county administrative offices and at the Town of Floyd office.
Hard copy applications can be mailed or dropped off at Floyd County Tourism Office/Floyd Visitor Center, 109 East Main St., Floyd, VA 24091 or emailed to: tourismdirector@Floydcova.org 

Local information Floyd County contact:  Pat Sharkey, Tourismdirector@floydcova.org;

Access Information Sheet > NRV Small Business Relief Program Information

Access ONLINE Application HERE

Access PRINT Application NRV Small Business Relief Program Application

Giles County contact > tourism@gilescounty.org