The private, nonprofit group 30 Day Fund, founded by technology entrepreneurs Pete and Burson Synder, is making small grants to small Virginia businesses to help tide over through the current crunch.
The Virginia 30 Day Fund is providing forgivable loans of up to $3,000 for Virginia-based small businesses. The forgivable loan is intended to provide immediate financial assistance (within maximum three days) to meet payroll, preserve healthcare coverage for employees, and save jobs while you await recently approved federal funding.
Snyder and his spouse donated $100,000 in “seed money” to create the nonprofit Virginia 30 Day Fund, which is intended to help businesses meet payroll, preserve health-care coverage for workers and avoid layoffs while awaiting the federal aid expected to arrive in about a month.
“While the small-business assistance on its way from the Trump administration is crucial, it is clear that many need help to survive and retain their employees while they await that relief,” Snyder said.
Virginia businesses that qualify for assistance from the Fund are:
The funds dispersed to small businesses by the Virginia 30 Day fund do not need to be repaid. But, if businesses who receive the Fund’s assistance are able to repay later, the Fund asks that they “pay it forward” to another Virginia small business in need of assistance. All money returned to the Fund will be disbursed to another Virginia business in need.
To apply to the fund, a business must fill out a one-page form at https://va30dayfund.com and submit a video up to three minutes long about the enterprise and its employees. Applications will be evaluated by volunteers from the Darden School of Business at the University of Virginia, as well as “some of the top business minds from the U.S. Chamber of Commerce,” Snyder said.
For more information please visit 30 Day Fund directly by clicking on the button above or here: https://va30dayfund.com/.