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Petersburg is Open for Business!
Following a successful first round of COVID-19 relief grant funding, the City of Petersburg has opened the application process for a second round of funding. The second round of the COVID-19 small business grant program is funded by the CARES Act.
With the goal of providing direct financial relief to businesses significantly impacted by COVID-19, the first round saw 166 total applicants. Overall, $212,750 was awarded to 78 local small businesses across all seven Wards in Petersburg.
“The response to the first round of this program was outstanding. So much so that we have increased the second-round awards to range from $1,500 to $10,000,” said Petersburg City Manager, Aretha R. Ferrell-Benavides.
With a few updates from the initial application process, eligibility for second-round funding requires that the business:
• Is headquartered in Petersburg and has been operational for at least 12 months (as of 8/1/2019)
• Pays taxes to the Commissioner of the Revenue and holds a valid business license
• 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
Those businesses awarded funding in round one will automatically receive additional funding during round two and need not apply again. If a business applied and was not awarded during the first round, they are eligible to re-apply during round two. Should any monies be owed to the City, that amount will be deducted from the round two award.
The second-round application closed on October 30th at 5pm.