BUSINESS ECONOMIC RECOVERY/ASSISTANCE FRAMEWORK
Intent of Program
To provide grant program for financial assistance to small businesses demonstrating economic hardship from effects of Governor Northam’s Executive Order 53 on March 12, 2020 and Executive Order 55 on March 30, 2020 related to the COVID-19 pandemic. Funds to be used to pay outstanding Town of Front Royal utility bills in order to continue to receive essential services; remaining assistance to be used by applicant for expenses associated with business interruption caused by the COVID-19 health emergency.
The Town of Front Royal has entered into an agreement with the Front Royal-Warren County Chamber of Commerce per VA Code Section 15.2- 953. Terms of the agreement will outline process for the Front Royal-Warren County Chamber of Commerce to administer a grant program of up to $1 million for Front Royal business economic recovery/assistance.
The Chamber of Commerce will work in conjunction with the Town of Front Royal Finance Department and the Front Royal CARES Committee to administer the grant.
The application deadline is August 10th, 2020 at 5:00pm
- Business must have a valid 2020 Town of Front Royal Business License and been in operation prior to Governor Northam’s Executive Order on March 12, 2020.
- Business must be located within the Town of Front Royal corporate limits.
- Business must demonstrate economic hardship of at least a 20% reduction in gross revenues, when compared to prior year;
- Small businesses with gross receipts greater than $15,080 or less than $2,000,000
- Applications must be received by deadline.
Tiers of Assistance
2019 Gross Receipts
Amount of Assistance
$15,080 - $50,000
$50,000.01 - $200,000
$200,000.01 - $500,000
$500,000.01 - $2,000,000
- Applications will be reviewed in the order received.
- Businesses having a Town of Front Royal Delinquent Utility Account and in need of essential utility service, shall pay past due balances upon receipt of Grant assistance.
- Preference will be given to businesses that have provided a strategic plan (no more than 2 pages) for conducting business once the Governor eases or lifts restrictions related to the COVID-19 pandemic. For example: how business will be performed upon reopening, such as social distancing, additional options for customer/employee interactions, additional methods of payment to minimize contact; number of employees to be retained; etc.
- Personal Name
- Business Name
- Type of Business
- Telephone Number
- Number of Employees
- Statement/signature on document to allow utility account information to be discussed between Town of Front Royal & Chamber of Commerce
Provide proof of economic hardship. Options include, but not limited to: (Preferred **):
- Profit/Loss Statement for 2019 **
- Profit/Loss Statement for March through May 2020 **
- Prior Year Comparative Statement March through May 2019 **
- 2019 Tax Returns if completed **
- Bank statements
- Invoices for expenses
- Other Financial Reports/Documents
Optional Strategic Plan demonstrating change in operation for COVID-19
Town will verify business license & utility account balance.
- Town of Front Royal business license prior to March 12, 2020 is required; applications not having obtained Town of Front Royal business licenses will not be accepted; business must have obtained a 2020 Town of Front Royal business license to be eligible.
- Businesses exempt from licensing are not eligible for Grant Assistance
- Town staff will identify past due balances on delinquent utility accounts
- Town staff will follow-up with applicant if business license is not current
Front Royal CARES Committee will review applications and provide approval of assistance based upon available funds and the aforementioned criteria. Funding decisions will be made within 14 days of receipt of a complete application. Payment for Grant Assistance will be available to be picked up at the Chamber of Commerce within 14 days of Grant Assistance approval. The CARES Committee will follow-up with applicant to discuss any additional documents or information if needed
If you have any questions regarding appropriate documentation or processing please contact Niki Foster at the Front Royal Chamber of Commerce (540) 635-3185. | Info@FrontRoyalChamber.com | 201 E. Main St. Front Royal, Va 22630.