The Bedford County Office of Economic Development launched a $1 million Back to Business Grant Program on Monday, August 17, 2020 at 9:00 a.m., to assist Bedford County businesses that have experienced losses from COVID-19 closures. The grants will be $5,000 each and provided to eligible small businesses on a first-come, first-served basis through September 18, 2020, or until funds are depleted.
The program is funded through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and has been authorized by the Bedford County Board of Supervisors during its board meeting on August 10, 2020. The $5,000 grants will support small business recovery and economic growth.
To be eligible for the grant a business must:
- Be a “for-profit business” with 100 or fewer employees as of January 1, 2020 and be a place of business located in Bedford County; or be a 501c(6) organization, such as local chambers of commerce specifically focused on economic development, tourism, and/or workforce development, as well as currently supporting businesses in Bedford County.
- Been in business for a minimum of 1 full year prior to COVID-19 (March 1, 2020) and current on county taxes.
- Must have annual gross revenues of $50,000 – $3 million.
- Must be able to show at least a 20% loss in revenue due to COVID-19 impacts since March 1, 2020, as compared to 2019 revenues.
- Must disclose any other CARES Act funds received, such as PPP.
Franchises must be wholly owned by a Bedford County resident or business entity to be eligible. If they have more than one location, they are only eligible for one Back to Business grant.
Funds are meant to assist businesses for the costs of business interruption and/or reductions due to COVID-19. The grant can be used for:
- Employee compensation (including wages and benefits)
- Working capital
- Equipment inventory
- Rent or mortgage
- Other business-critical operating expenses such as utilities and insurance, and PPE
Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures and/or sales losses.
Please see forms below as a sample of what will be required when you apply:
3 Ways to Apply:
- Online Application Form (preferred), or
- Download form, fill out, save, and submit via e-mail, or
- Download form, fill out, save, print, and mail via USPS/UPS/FedEx to:
Bedford County Office of Economic Development
Attn: Business Grant
122 East Main Street
Bedford, VA 24523
Please read the application carefully, answer all applicable questions, and submit all of the documentation needed to verify your eligibility. Documentation required to support your application includes:
Eligibility is limited to provide the assistance to those most in need due to COVID-19 adverse affects.
Those not eligible include:
- Businesses or franchises not headquartered in Bedford County (only exception is 501c(6) organizations as defined in criteria above.)
- Businesses in the Town of Bedford that already received a $5,000 grant for COVID-19 relief.
- Independent contractors operating multi-level or network marketing businesses (such as Avon, Mary Kay, Pampered Chef, etc.)
- Independent contractors (1099’ers) working on gig platforms (such as Airbnb, Uber, Lyft, etc.)
- Home-based businesses with no employees.
- Non-profit organizations, except for 501c(6) organizations as described above..
- Businesses engaged in speculation or investment in rental real estate.
- Businesses determined to be Ineligible Businesses under SBA guidelines.
If you have any questions, please contact Traci Blido, Bedford County Economic Development Director at (540) 587-5670 or firstname.lastname@example.org