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The original item was published from 8/3/2020 10:34:55 AM to 8/3/2020 3:22:25 PM.
Posted on: August 3, 2020
[ARCHIVED] Petersburg is Open for Business! - Small Business Relief Program
Petersburg is Open for Business!
Petersburg City Council has approved the COVID-19 small business grant program funded by the CDBG CARES Act. The goal of this program is to energize business collaboration and provide direct financial relief to businesses significantly impacted by COVID-19. The City will distribute grants based on need ranging from $500 to $5,000.
“This program is a direct result of the City actively listening to what our business community needs during this difficult time,” said Petersburg City Manager, Aretha R. Ferrell-Benavides.
Eligibility for funding requires that the business:
• Pays taxes to the Commissioner of the Revenue
• Has been operational for at least 12 months (as of July 1, 2020)
• Has a Gross Annual Revenue of at least $25,000
• Employs 30 Full-Time Employees (FTE) or fewer
• Business owners with multiple businesses can only receive one grant
“Our City Council genuinely empathizes with our local business owners,” Petersburg Mayor, Sam Parham. “Offering this grant funding will hopefully provide the necessary financial support our local small businesses are looking for as they navigate these current challenges.”
Businesses that are not eligible for relief:
• Businesses or franchises not headquartered in the City of Petersburg
• Independent Contractors in network marketing or on gig platforms
• Businesses engaged in speculation or investment in rental real estate
• Businesses deemed “Ineligible Businesses” under SBA guidelines
The application deadline for the first round of grant funding is 5:00pm on Friday, August 14th.