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City of Salem established $500,000 small business grant fund


City of Salem provides $500,000 in small business relief funding. (Salem City Hall, WSET){p}{/p}
City of Salem provides $500,000 in small business relief funding. (Salem City Hall, WSET)

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SALEM, Va., (WSET) -- The City of Salem has established a $500,000 small business COVID-19 grant fund to help assist businesses struggling with financial impacts.

The one-time grants of up to $5,000 are intended to support small businesses in the recovery process of the pandemic. The funding will be administered through the Economic Development Authority (EDA) and application forms will be available to print and download starting July 13, at 8 a.m.

Funds may be used to reimburse the cost of business interruption caused by required closures which may include:

  • Operations (i.e., payroll, rent, supplies, working capital, insurance, etc.)
  • Pivot to respond to new market conditions (i.e., develop or expand online sales/e-commerce, delivery or take out; develop new product line, etc.)
  • Equipment and inventory purchases
  • Rent or mortgage expenses
  • Deep cleaning services, PPE, protective barriers, etc.
  • Other critical operating expenses

Electronic applications are being accepted beginning July 13, 2020 and will be available on the City of Salem Economic Development web page.

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