UPDATE: Gov. Northam announces all Rebuild VA funds allocated

2,500 Virginia businesses and nonprofits impacted by the COVID-19 pandemic have received the eligible funding granted through the $100 million Rebuild VA economic recovery fund.

Gov. Ralph Northam announced Wednesday that all available funding through the economic initiative has been committed and the Commonwealth’s top leader is now urging Congress to pass a new coronavirus economic relief package that will allow Rebuild VA to continue.

“Rebuild VA has been a critical lifeline for thousands of small businesses and nonprofits that are grappling with the ongoing public health crisis and the resulting economic fallout,” said Governor Northam. “Federal support was vital to establishing this program and mitigating the impacts of the pandemic on our economy, but we continue to face tremendous challenges with the virus surging across our country. Now, Congress must come together and quickly pass a bipartisan relief package that includes additional support for struggling families and businesses.”

Through Rebuild VA, the Governor says approximately $50 million was administered to state businesses with women, minority, and veteran ownership, with nearly half of the funding issued to small businesses and non-profits in low income communities.

Rebuild VA received over 15,000 applications and issued an average grant of $35,636, according to the Governor.

Photo Courtesy: Office of the Virginia Governor/Rebuild VA Logo