NBC29 | Charlottesville man creates nonprofit dedicated to small business loans in Virginia

A nonprofit is providing immediate help for at-risk small businesses in the commonwealth.

The Virginia 30 Day Fund was launched by technology entrepreneur Pete Snyder and his wife.

Each approved small business gets up to $3,000 dollars to cover things like payroll and health care costs.

Snyder says he wanted to give back in a way that’s quick, easy, and free of red tape.

“50% of Virginia’s budget is fueled by small businesses, and over 50% of small businesses don’t have more than two weeks cash on hand, so they just simply can’t wait for the federal government cavalry to get there. So we’re going to step up,” Snyder said.

Small business owners are asked to fill out a one-page form and submit a brief video highlighting the business and its employees. To qualify, the business must employ three to 30 people, be based in Virginia, operating for at least one year, and owned and operated by a Virginia resident.

For more information on the Virginia 30 Day Fund and how to apply, click here.