Applications for Vermont Economic Recovery Grants Are Still Available
Applications for Vermont Economic Recovery Grants are still available. Funding eligibility has been expanded recently so don’t miss out on this opportunity. To apply, click here.
Under the original eligibility criteria, a business was required to have at least one W-2 employee who was not an owner of that business. However, given the recent expansion of eligibility, a business with at least one W-2 employee-now including those who are an owner- are also eligible and are encouraged to apply.
More than $78 million has already been awarded to Vermont businesses but there are still funds available. Businesses are encouraged to apply if they have experienced losses of at least 50% in the month of July 2020 (compared to July 2019) and have not already received a grant. Businesses who may not have been eligible earlier in the year are encouraged to re-evaluate their losses as they may now be eligible.
The governor said more grant money could be made available for the various programs once the legislature reconvenes later this month. The COVID-19 Relief Funds from the federal government have not all been used and the Legislature must distribute the funds by the end of the year or the state will lose them.
Businesses who chose not to apply, or already applied and were deemed ineligible and believe they may now be eligible under the new criteria are encouraged to contact the Department of Taxes at 802-828-6611 or ACCD at 802-828-1200 to learn more. Those who have not yet submitted an application are encouraged to do so and can learn more at https://accd.vermont.gov/covid-19/economic-recovery-grants.
Resource: Vermont Business Magazine 8/3/2020