$30 million for Vt. businesses that didn’t get relief funding
MONTPELIER, Vt. (WCAX) - Vermont on Monday will launch a new economic recovery program for businesses that have not received prior state and federal pandemic-related funding and for others that continue to suffer pandemic-related losses.
The program is expected to deliver $30 million in federal financial relief to businesses that were ineligible for state and federal funding and to businesses that can show a continued loss of revenues.
“As we move out of the pandemic emergency and into our long-term recovery, it’s so important that we support Vermont’s small businesses and employers, who are the backbone of our economy,” Scott said Thursday. “These grants will provide critical relief in the short term, allowing them to rebuild a stable foundation for their economic futures.”
“We wanted a way to help them out because it was such a long crisis and still is. There are some glimmers of hope ahead but there are still some operating in that limited capacity,” said Vermont Economic Development Commissioner Joan Goldstein.
The state will start taking applications for the Economic Recovery Bridge Program on Monday. Grants will be issued on a first-come, first-served basis. In the first 30 days, priority will be given to businesses that have not received or do not have a pending application for any state or federal financial assistance in 2020 or 2021, officials said.