TAZEWELL, VA (WVNS) — More help for small businesses in Tazewell County is on the way from the federal CARES Act. The Board of Supervisor announced on Thursday, July 16, 2020 they are allocating a second round of grants to local towns.
According to Tazewell County Administrator Eric Young, the funding will be used to provide emergency support to establishments that suffered financial loss after being forced to close or alter their businesses for more than two months.
“Due to the mandated shut down, many businesses within Tazewell County are struggling; this funding will have a major impact in helping them recover and assist our local economy as the Commonwealth continues to reopen,” Young said.
More than $3.5 million of CARES Act funding was allocated to Tazewell County. The funding must be used by Dec. 30 and cannot fill shortfalls in government revenue.
“The importance of our small businesses cannot be underestimated,” stressed Young. “They are the lifeblood of our community. The Board directed this funding as grants, not loans, to assist in preserving jobs and lessening the economic impact of this pandemic. If you are a business located inside one of the Towns in the County you should contact your Town Offices to apply. If your business is not located in any town you should watch our County Board’s website in the days ahead for details on how to apply. We encourage those eligible to take advantage of this opportunity.”
The money is part of $550,000 which was directed by the Board of Supervisors on June 25. The grants in the second round of funding were broken into three segments. These include restaurants, retail and general commerce. Each segment received a $100,000 allotment. Here is the breakdown:
|Bluefield – $30,000||Bluefield – $14,000||Bluefield – $12,000|
|Cedar Bluff – $3,000||Cedar Bluff – $5,000||Cedar Bluff – $3,000|
|Pocahontas – $1,000||Pocahontas – $1,000||Pocahontas – $1,000|
|Richlands – $23,000||Richlands – $16,000||Richlands – $13,000|
|Tazewell – $23,000||Tazewell – $14,000||Tazewell – $10,000|
|Tazewell County – $20,000||Tazewell County – $50,000||Tazewell County – $61,000|
The distribution of the funds will be left to the discretion of the each town under rules mandated by the U.S. Department of Treasury. The remaining $3 million allocation from the CARES Act will be dispersed this year as the progression of the disease is better understood.