The Botetourt County Board of Supervisors and Economic Development Authority are asking small businesses located in Botetourt County to consider applying for the county’s small business grant program. Grants are intended to support existing small businesses in the county by providing grants in the amount between $2,000 and $4,000.
General Eligibility to Receive a Grant:
- Only small businesses physically located and based in Botetourt County employing 100 or fewer employees;
- Sole proprietorships, LLCs, partnerships, corporations, or self-employed individuals that are recognized business entities. At this time, non-profit organizations cannot be eligible for this grant;
- Business must have 2024 county or town business license and be in good standing with all applicable requirements;
- Businesses that have filed for business status through the Virginia State Corporation Commission (SCC), filed for a Botetourt County business license, and been in full operation by May 1, 2024;
- Businesses must have been and continue to be in compliance and in good standing with all local ordinances, on the county tax rolls, current with Botetourt County taxes/fees or other assessments, and have a current business license as required;
- Agricultural production operations are exempt from the SCC and county business license filing requirements; however, other documentation must be presented showing that the farm-related business has been in existence as with other types of businesses;
- The Department of Economic Development staff will review all applications for eligibility and completeness of the application. Staff may recommend a grant amount to award to an eligible small business. Eligible applications and recommended grant award amounts will be presented to the Botetourt County Economic Development Authority and/or its grant review committee; and
- Awarded grants will include a completed grant agreement between the small business applicant and the EDA before any funds can be disbursed.
Overview of Grant:
- Grants are available for any for-profit small business based in Botetourt County; businesses that employ more than 100 workers or non-profit corporations are not eligible for this grant program,
- Application Period is from June 1, 2024 to July 12, 2024.
- Funding for this program is limited. Awarded grants should be between $2,000 and $4,000 and not exceed $4,000. And, this grant program will be competitive; not every applicant may receive a grant. Botetourt County and the Economic Development Authority reserve the sole discretion whether to award a grant to any eligible small business.
- Grants will be reimbursable for eligible expenses.
- Grant awards should be made during July or August 2024.
- There will be one grant awarded to a small business in each of the five magisterial districts (Amsterdam, Blue Ridge, Buchanan, Fincastle, and Valley districts).
Eligible uses of grant funds:
- Professional Services, including marketing (incl. chamber dues), finance & accounting, legal counsel, engineering.
- New capital investments including real estate & building improvements/expansions, machinery, and equipment.
- Job creation, including costs associated with selecting, hiring, and training employees.
- Complying with State or Local regulations/permitting.
How the grants will be reviewed and awarded:
- Quality/Clarity of Business Plan
- Sales and Marketing Strategy
- Creation of new jobs/positions
- Demonstrated opportunity to grow and sustain the business
The online application can be found by clicking here.
Questions? Contact Luke Campbell at lcampbell@botetourtva.gov or call (540)928-2140.
