The City of Hopewell is launching the “City of Hopewell COVID-19 Small Business Recovery Program” to support Hopewell small businesses who have been affected by COVID-19. Grant funds are limited. Once the allocated funds are distributed, there is no guarantee of additional funding from City Council for this program. The maximum grant amount is $10,000, to provide immediate relief to small businesses who have lost income due to COVID-19 and to prepare for reopening under the CDC and State of Virginia guidelines.
During the application process, applicants will have to demonstrate that they were operational as of March 17, 2020, that they are an eligible City of Hopewell business, and that they are suffering negative impacts from COVID-19.
The application process starts on Friday, September 25, 2020 and ends Friday, December 4, 2020 at 5pm. Grants will be awarded based on timely, complete applications. Applications will be numbered and tracked as they come in. If funding for this program runs out before December 4th at 5pm, there is no guarantee of additional funding for the program.
Grant Eligibility (All businesses must meet these criteria to be eligible for a grant):
Businesses must possess a valid City of Hopewell business license.
All Hopewell small businesses with 50 employees or less (national chain and/or nationally franchised locations are not eligible).
Businesses must have been established and operational in Hopewell on or March 17, 2020.
Business must be in good standing with city taxes and city sewer and refuge payments, or on an active payment plan.
Must be a for-profit business.
Not a publicly traded company.
Business must have a physical presence within the City of Hopewell.
Grants will be awarded to the majority business owner only.
Grants will be awarded based on timely, complete applications. Applications will be
numbered and tracked as they come in.
Total grant funds available for each award will not exceed $10,000.
Grant amounts vary by size of business, based on number of employees (documented by payroll statements and federal employment records):
Businesses with 1-10 employees: up to $5,000
Businesses with 11-50 employees: up to $10,000
Businesses who have already applied for and been approved for the first round of funding need not apply again. The city of Hopewell will automatically process a check for the difference of grant funding and send to the business. For example, a business who initially received a grant payment for $1,500 will receive another check for $3,500 to equal the new $5,000 amount. Businesses will be notified by October 2, 2020 regarding their additional grant funding.
Funds must be used for operational capital to assist the business in sustaining operations such as payroll, utilities, inventory, rent, and business mortgage.
Grant recipients will be determined eligible by the City Manager’s Office, the Treasurer’s office and the Commissioner of the Revenue’s office. Grants will be issued by the City of Hopewell.
Grant funds will be made payable to the business name as listed on IRS Form W-9.
All applications and materials submitted will be public records and subject to the Freedom of Information Act (FOIA). Documents identified as propriety (i.e. tax returns, social security numbers, financial documents, etc) are exempt under FOIA.
Application for the grant constitutes an unconditional agreement to and acceptance of the Terms and Conditions. The Applicant is responsible for ensuring his or her familiarity with the Terms and Conditions.
By submitting an application, the Applicant certifies that it is not under any agreement or restriction that prohibits or restricts its ability to disclose or submit the materials included in the application or otherwise to apply for a grant.
Applicants acknowledge and agree that the Applicant’s business name can used by the City or the EDA in the promotion of the grant program and may be displayed publicly showcasing selected businesses.