The Chamber is committed to our mission of championing social and economic progress for our community in this new year. Serving as your community resource, we have gathered information about a few programs of the programs available to assist our business community.
SBA PPP Loans Resumed
SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw PPP Loans the week of January 11, 2021. SBA will begin accepting applications for Second Draw PPP Loans on January 13, 2021.
SBA is currently accepting Second Draw PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. The program will open to all lenders on January 19, 2021.
Visit the SBA website for more information.
Dominion Energy Social Justice Grants Initiative
The Dominion Energy Charitable Foundation will make grants totaling $4 million to support non-profit organizations advocating for social justice and equality through its Social Justice Grants Initiative. Under a separate program, the We Care Rebuild Project, we will commit the remaining $1 million to help minority-owned and small businesses recover from recent disruptions.
Learn more about the initiative here.
Barstool Sports / Virginia 30 Day Fund
Barstool Sports has created the Barstool Fund in support of the 30 Day Fund to help small businesses survive. The non-profit Virginia 30 Day Fund provides forgivable loans for Virginia-based small businesses. The forgivable loan is intended to provide immediate financial assistance to meet payroll, preserve healthcare coverage for employees and save jobs while they await recently approved federal funding.