WY DAILY | You may qualify for this coronavirus relief fund if you own a small biz in the Historic Triangle

The Greater Williamsburg Small Business Relief Fund is a joint-partnership with Williamsburg, James City County and York County economic development authorities.

Each forgivable loan is $3,000 and can go toward payroll, health care and job security expenses. Apply for a loan here.

To qualify, the business must be based in Williamsburg, James City County or York County, be operated and owned by a Virginia resident, employ three to 30 people and operating for at least one year.

The fund donations are given to the Williamsburg Community Foundation — the foundation has partnered with the Virginia 30-Day Fund, a nonprofit supporting businesses statewide.

The Virginia 30-Day Fund will process applications and issue payments to small businesses, according to the news release.

Pete Snyder, co-founder of the Virginia 30 Day Fund, said they have funded more than 140 small businesses in Virginia. Locally, some recipients include The Prescription Shoppe, Shorty’s Diner and Carrot Tree Kitchens.

“Small businesses all over the Commonwealth are hurting right now through no fault of their own, so we are excited to partner with Virginia’s founding region to support small businesses and save jobs in Greater Williamsburg,” Snyder said in a prepared statement. “I’m thrilled to announce The Greater Williamsburg Small Business Relief Fund is the first public-private partnership in the Commonwealth to align with the Virginia 30-Day Fund, and it will allow us to expand our reach even further as we try to save as many Virginia jobs as possible.”

The fund totals $33,500 and the donations come from the following entities:

• Williamsburg, James City County and York County’s EDA’s: $10,000.
• Chesapeake Bank: $10,000.
• Williamsburg Community Foundation: $7,500.
• Barb Ramsey, Williamsburg City Council: $6,000 matching.

To apply, small businesses must fill out a form and submit a video about its businesses. The loans are approved within three days and transferred immediately, according to the fund’s website.

MBA students from the Raymond A. Mason School of Business at William & Mary and the Darden School of Business at the University of Virginia have volunteered to evaluate the applications and businesses are encouraged to repay the loan by donating to the fund or “paying it forward,” according to the news release.

You can donate to the Greater Williamsburg Small Business Relief Fund here.

For more information, call the Williamsburg Community Foundation at 757-259-1660 or email [email protected].