BUSINESS EQUITY FUND GRANT PROGRAM:
The City of Charlottesville Office of Economic Development's Minority Business Program has allocated $35,000 for direct business support to 14 socially disadvantaged businesses. These mini grants are for existing City of Charlottesville businesses that are owned by individuals who are considered socially disadvantaged (i.e., those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of a group). Priority will be given to those who were not assisted financially from the Office of Economic Development in 2020. Eligible businesses are allowed to receive one mini grant to clear any unpaid fees, taxes, or loans acquired through the City of Charlottesville. If the business owner is current on the aforementioned list, they can use the mini grant for other pre-approved uses (e.g., rent, insurance, operating expenses, inventory, equipment, etc.). The $2,500 mini grant will be awarded after recipients complete a business training course and at least two one-on-one business consultations with the Central Virginia Small Business Development Center. Estimated training time is approximately five hours.
USE OF FUNDS:
Grant funds can be used to clear any unpaid fees, taxes (real estate, business tangible property tax, BPOL), or loans acquired through the City of Charlottesville. If the business owner is current on the aforementioned list, they can use the mini grant for other pre-approved uses (e.g., rent, insurance, operating expenses, inventory, equipment, etc.). Businesses who have already received BRACE or GO Hire in 2020 and the Small Business Relief Grant (July) or Small Business Relief Grant 2.0 (October) are still eligible to apply. Preference will be given to socially disadvantaged businesses who have not been assisted financially from the Office of Economic Development.
