Relief grants expanded for businesses
More grant money is now available for Vermont businesses to help ease economic pressure from the pandemic.
A couple of hay bales hang out in a field off Cloudland Road in Pomfret earlier this fall. (Gareth Henderson Photo)
More grant money is now available for Vermont businesses to help ease economic pressure from the pandemic as the months grow ever colder.
On Tuesday, Vermont Gov. Phil Scott announced another $76 million in Economic Recovery Grants funded by relief money from the federal CARES Act. The package includes additional relief for some sole proprietors and new businesses that didn’t qualify for grants earlier this year.
“We know many businesses and sectors in the state continue to feel the negative impacts of COVID-19 and the steps we’ve had to take to keep Vermonters safe,” Scott said in a statement. “With these grants, we are working to support those sectors most impacted by this pandemic and help them survive into the winter months.”
At a Tuesday press briefing, the governor particularly noted the impact on the hospitality sector, which depends hugely on tourism and accounts for over 30,000 jobs in the state. He called for Congress to pass another relief bill — something it hasn't done since March.
"What we need is for Congress and the White House to put politics aside, come together and provide another stimulus package just a soon as possible to help the states survive and recover," Scott said.
As for the newly expanded grants, Vermont businesses and nonprofits, including sole proprietors, can apply. To be eligible, applicants must have seen a decline in total sales between March and September of 2020, compared to the same period in 2019, and they must demonstrate unmet need.
Unlike the prior round of recovery grants, this new one is open to sole proprietorships and new businesses that did not have a full year of revenue to show from 2019. Another key difference: This expanded program will not be first come, first served. Instead, grants will be distributed in late November after the total unmet need of all qualifying businesses has been determined.
State officials also noted there is a $300,000 limit for total grants received by any applicant, and previously received economic recovery grants count against that total.
Businesses and nonprofits that collect and remit Meals and Rooms Tax or Sales and Use Tax may apply through the Department of Taxes. All others, including those who have previously received a grant from the Agency of Commerce and Community Development (ACCD), may apply to ACCD. Visit the ACCD Recovery Resource Center for full details.
The Department of Taxes application is open now through the myVTax portal until midnight, Oct. 30. ACCD will open their application in the next week and the window to submit applications will also be two weeks.
In addition, ACCD and the Department of Taxes will host informational webinars on Wednesday, Oct. 21, and Friday, Oct. 23, to review program eligibility, application process, and answer questions from business owners.
— Gareth Henderson