Economic Development

BRACE Grant 2.0

The OED is offering another round of the Building Resilience Among Charlottesville Entrepreneurs (BRACE) Grant. In April of 2020, BRACE grants helped 69 City businesses survive the early days of the pandemic. BRACE Grant 2.0. is intended to help businesses gain resiliency and adapt in response to a threat such as the COVID-19 pandemic.

Building Resilience Among Charlottesville Entrepreneurs (BRACE) Grant 2.0:

• Application period starts from  Monday, July 12th at 9:00 am  and closes Thursday, July 29 at 5:00 PM.
• Apply here for the BRACE 2.0 application
• Grants up to $2,500 for City businesses, with a business contribution of 30% of the grant request
• Focused on resiliency efforts
• Online application process with an interview
• Reimbursements turned around in seven to ten business days
• If you missed the webinar from Thursday, 7/8/2021, you can watch the BRACE 2.0 video .

Businesses are  welcome to contact our office with any business needs. For more information, please email ecodev@charlottesville.org or call 434-970-3110.

Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant is scheduled to open in early April.  There are some advanced steps that businesses may need to do now to better prepare for the application process.  Watch this video for more details.  Check the Small Business Administration website for the most up-to-date information.

Southern Opportunity And Resilience (SOAR) Fund

SOAR Fund provides flexible, affordable capital and free business support services to small businesses and nonprofits across the south and southeast to help them navigate and rebuild from the Covid-19 economic crisis.  Get all the details at SOAR website. 

City Delivers $750,000 in Relief to Small Businesses

The City of Charlottesville Office of Economic Development (OED) is pleased to announce that 128 small businesses have received funds from the Small Business Relief Grant (SBRG) program. The full list can be found at the Small Business Relief Grant link.

Project Rebound

Project Rebound, a local economic recovery initiative for our area, recently released "A Blueprint for Economic Resiliency and Reinvention in Greater Charlottesville Region". The report, produced by KPMG LLP, maps out economic recovery action steps for the business community.  The recommended actions are based on data from stakeholder meetings and follow-up interviews with more than 300 local participants. The project was led by the Charlottesville Regional Chamber of Commerce with support from the City, County and University economic development efforts. Click to see the full Blueprint report.

Disaster Preparedness for Small Businesses

Anticipating business interferences, crises and debacles is an essential part of maintaining a business.  Engaging the business community in Risk Reduction for Business Resilience whether it be a hurricane, tornado or outbreak like COVID-19, is imperative.  Studies show that more than 40% of small businesses close permanently after a disaster.  Among those that reopen, another 25% fail within a year.  The Disaster Preparedness for Small Business guide extensively illustrates and highlights the best tips and resources to guide entrepreneurs in their business recovery and continuity plan.

SBA Disaster Assistance

The Small Business Administration (SBA) has reopened the Economic Injury Disaster Loan and EIDL Advance program portal to further meet the needs of small businesses impacted by COVID-19.  See the SBA Disaster Assistance website for all the details and to apply.

Links to Assistance for Businesses During COVID-19

• Small Business Owners Guide to CARES Act (PDF) - Assistance for business owners with whatever needs they have right now.
• VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses.       
• US SBA COVID-19 business assistance.  The Commonwealth of Virginia is now officially listed and classified as an "eligible" area. We encourage City of Charlottesville businesses interested in submitting an application for financing the SBA’s Coronavirus (COVID-19) Disaster Assistance Program to begin completing the application. The number assigned to the State of Virginia for the emergency declaration is VA-00087.  General guidance on the SBA Disaster Loan process (PDF) 
• For information on unemployment and other business needs, visit the Virginia Employment Commission. The Governor has waived the on-week waiting period so that workers can start receiving benefits right away.  
• Updates from Virginia Department of Health (including some info for business).

Financial Resources                

• Tory Burch Foundation has a useful list of resources (for both finding and advice) for small businesses.
• VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses       
•        The VA Small Business Development Center (SBDC) has published new information on financial assistance for small businesses and how to apply for a Federal Disaster loan.         
• SBA Disaster Assistance Loan.          Facebook Social Network 

Additional Information

• Charlottesville restaurants and stores  currently "open" for business: CVILLESHOPS 

For the most up-to-date information, be sure to follow us on social media or sign up for updates.

The Office of Economic Development is the catalyst for public and private initiatives that create employment opportunities and a vibrant and sustainable economy.

Charlottesville Voted the Best Place to Live in America, Best Place to Retire, Best Green City, Best Digital City, Best Place to Start a Small Business, the Healthiest City and the list continues!