Virginia Pilot | Virginia 30-Day Fund Established To Offer Hope To Small Businesses – And Fill The Gap

As small businesses anxiously await the federal aid meant to help keep their livelihoods afloat during the coronavirus pandemic, a new nonprofit organization has been launched to assist in the interim.

Pete Snyder, chief executive officer of Disruptor Capital, and his wife, Burson Snyder, established Virginia 30 Day Fund to help businesses meet payroll, maintain healthcare coverage for employees and avoid layoffs in these uncertain times.

Snyder said in a news release that they want to save as many jobs as possible and provide people with hope.

“As a small business owner and a serial entrepreneur, I’ve never seen a scarier time for both business owners and employees who are struggling today through no fault of their own,” Pete Snyder said.

The fund, seeded by the Snyders with an initial $100,000 of capital, will offer up to $3,000 to each qualified small business.

To qualify, small Virginia-owned, operated and based businesses are required to have three to 30 employees and to have been in business for at least a year.

According to the news release, Virginia 30 Day Fund’s application process is meant to be quick, easy and free of red tape. It can also be easily replicated to help communities and small businesses in other states.

Applicants are required to visit, fill out a form, and submit a three minute (or less) video detailing their business and its employees.

Volunteers in the University of Virginia’s Darden School of Business MBA program and the U.S. Chamber of Commerce are overseeing the approval process.

The money, which will transfer within three days, is not required to be paid back, but the Snyders ask that it be paid forward through the fund to another small business, in time, if possible.

Additional pledges, by business and philanthropic leaders throughout the commonwealth, will increase the range and impact of the fund.

“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,” Pete Snyder said.

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