The application period for quick action grants for businesses through RRStrong funding ends Sunday.
Up to $1,000 in funds will be awarded by mid-July, Main Street Development Director Christina Caudle said.
The original intent had been to do forgivable loans but money awarded businesses through the funding will now be in the form of quick action grants which don’t have to be repaid.
About a dozen have applied thus far, Caudle said, and can be done so using the RRStrong Local Small Business Relief Fund Application which can be found at this link and is in a Google Docs format.
Funds have been raised through a virtual art auction, the RRStrong Virtual 5K run, and donations.
The quick action grants come as several businesses didn’t qualify for government assistance for COVID-19 relief.
For eligibility businesses must meet all six requirements which are as follows:
Employs 20 people or less
Annual net revenues do not exceed $500,000
The business is local and independently owned
The business has a brick and mortar storefront — a physical location
The business has not filed for bankruptcy or open tax liens
The business is located within the city limits of Roanoke Rapids or is a member of the Roanoke Valley Chamber of Commerce
All applicants which meet the eligibility requirements will be graded within the following priorities:
Applicants with fewer than five employees or revenues less than $100,000
Community character — those which offer one-of-a-kind products, services or experiences
The idea of the quick action grants is to help businesses meet overhead expenses such as rent, mortgage, payroll or inventory.
Main Street, the chamber and The Rewritten Story Foundation are partners in the program.
For more information contact Caudle at 252-676-9686.