Funds to be distributed later this month.

Richmond, VA – Last week, the Metropolitan Business League (MBL) selected 117 Richmond small businesses to receive grant disbursements from the Small Business Recovery Grant Fund, which provides financial support to businesses impacted by the January water outage. The program is a public-private partnership administered by the MBL that is funded by $500,000 from the City of Richmond Economic Development Authority (EDA), Dominion Energy, and Altria.

“We are grateful to be able to offer some measure of respite for small businesses in the City who are feeling the financial strain caused by January’s water crisis” said Mayor Danny Avula. “Being able to distribute these funds is not just about relief, its about showing our small business owners that Richmond stands with them and that we are committed to this recovery, together.”

Following a two-week open application period that closed on March 28th, MBL, in partnership with Bridging Virginia (a Community Development Financial Institution), ran a multistep review process. Of the 199 submitted applications,139 applications met the necessary eligibility requirements.

Using criteria such as demonstrated fiscal impact, impact statements, and water dependency assessments, a panel of public and private stakeholders then reviewed and scored the 139 eligible applications to assess the overall economic hardship incurred as a result of the water outage. Based on fund availability and review criteria, nearly 85% of eligible applicants will receive a $2,500 or $5,000 grant. Restaurants/ food service businesses represent the majority of awardees at 61%, followed by personal service businesses (like hair and nail salons) at 14%, with the remainder of awards spread across industries.

Funds will be distributed to recipients later this month, once MBL has received all required documentation from selected applicants. Additional details on the grant’s eligibility requirements and selection criteria are available on MBL’s website.