Economic Development

Bristol Virginia Economic Development Grant Program

The City of Bristol, Virginia is pleased to announce that it will be offering grants to several businesses throughout the City of Bristol, Virginia. These grants are targeted to new and expanding businesses. There will be a specific focus on Small-Scale Production and SWAM Businesses (Small, Women, and Minority owned). A 1:1 match will be required and the grants can be used for property ownership, leased space, business licenses, training, utilities, and equipment. Due to the limited amount of funds available, grants will be competitive in nature with the highest scoring application receiving up to $10,000. We will begin accepting applications from January 31, 2022 until February 13, 2022. 

Click Here to Apply

 _{Terms and Conditions: Applications will be accepted from current businesses and new businesses. Special consideration given to small-scale production and SWAM businesses (Small, Women, and Minority owned business) and employee less than 10 full time employees. Other terms and conditions may apply, please see grant application for further details.}

Disaster Preparedness for Small Businesses

Anticipating business interferences, crises and debacles is an essential part of maintaining a business.  Engaging the business community in Risk Reduction for Business Resilience whether it be a flood, tornado or outbreak like COVID-19, is imperative.  Studies show that more than 40% of small businesses close permanently after a disaster.  Among those that reopen, another 25% fail within a year.  The Disaster Preparedness for Small Business guide extensively illustrates and highlights the best tips and resources to guide entrepreneurs in their business recovery and continuity plan.

SBA Disaster Assistance

The Small Business Administration (SBA) has reopened the Economic Injury Disaster Loan and EIDL Advance program portal to further meet the needs of small businesses impacted by COVID-19.  See the SBA Disaster Assistance website for all the details and to apply.

Links to Assistance for Businesses During COVID-19

• Small Business Owners Guide to CARES Act (PDF) - Assistance for business owners with whatever needs they have right now.
• VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses.
• US SBA COVID-19 business assistance.  The Commonwealth of Virginia is now officially listed and classified as an "eligible" area. We encourage City of Charlottesville businesses interested in submitting an application for financing the SBA’s Coronavirus (COVID-19) Disaster Assistance Program to begin completing the application. The number assigned to the State of Virginia for the emergency declaration is VA-00087.  General guidance on the SBA Disaster Loan process (PDF) 
• For information on unemployment and other business needs, visit the Virginia Employment Commission. The Governor has waived the on-week waiting period so that workers can start receiving benefits right away.  
• Updates from Virginia Department of Health (including some info for business).

Financial Resources

• Tory Burch Foundation has a useful list of resources (for both finding and advice) for small businesses.
• VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses
• The VA Small Business Development Center (SBDC) has published new information on financial assistance for small businesses and how to apply for a Federal Disaster loan.
• SBA Disaster Assistance Loan.