Economic Development

NEW: Business Equity Fund Mini-Grant

The City of Charlottesville Office of Economic Development's Minority Business Program has allocated $35,000 for direct business support to 14 socially disadvantaged businesses. These mini grants are for existing City of Charlottesville businesses that are owned by individuals who are considered socially disadvantaged (i.e., those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of a group). Priority will be given to those who were not assisted financially from the Office of Economic Development in 2020. Eligible businesses are allowed to receive one mini grant to clear any unpaid fees, taxes, or loans acquired through the City of Charlottesville. If the business owner is current on the aforementioned list, they can use the mini grant for other pre-approved uses (e.g., rent, insurance, operating expenses, inventory, equipment, etc.). The $2,500 mini grant will be awarded after recipients complete a business training course and at least two one-on-one business consultations with the Central Virginia Small Business Development Center. Estimated training time is approximately five hours.

Applications are now being accepted online. The deadline for the Business Equity Fund Mini-Grant is Friday, January 22nd at 5pm

BEF Mini Grant Flyer

NEW: Paycheck Protection Program Loan Is Back

The Small Business Administration is now accepting applications for Second Draw PPP Loans.

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a loan to apply for a Second Draw PPP Loan with the same general  loan terms.

A borrower is generally eligible for a Second Draw PPP Loan if he or she:

  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020

You can apply for from January 13th until March 31, 2021.

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.

Phase Three All Business Sectors

Governor Northam announced Phase Three guidelines for all Business Sectors.  Read about the Governor’s Safer at Home: Phase Three for more information.  

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.

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

Financial Resources

Additional Information

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

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

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