Vermont businesses can apply for economic recovery grant on Monday

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On June 19th Governor Phil Scott signed an act that includes $70 million to issue emergency economic recovery grants to eligible Vermont businesses and nonprofits that have suffered because of COVID-19. The grant application process will open on Monday, July 6th. To make this a simple process, the administration has created one place to apply.

Governor Scott said, “I have instructed my team to make the process as easy as possible in order to get the money out the door quickly to those who are in need.”

The Agency of Commerce will be hosting a series of webinars to help applicants and answer questions. Economic Development Commissioner, Joan Goldstein says ACCD will host its first webinar Thursday, July 2nd at 3:00 p.m.

Goldstein said, “We realize that these grants are not enough to make businesses whole but we do hope that this influx of cash can help them survive.”

The grants will be distributed on a first come first serve basis and the maximum grant award will be $50,000. Each business or organization can only receive one grant.

“It is our goal to distribute these funds as quickly and as seamlessly as possible. Within weeks of an approved application”, said Goldstein.

The Agency of Commerce and Community Development has set up a portal on their website that explains who is eligible and how to apply for the grant.

Goldstein said, “We strongly encourage businesses to go to our website to get guidance on how to prepare so that you have the proper documents ready ahead of time.”

Additional legislation is expected to be signed by the Governor in the coming weeks and will provide another $96 million in funding for these economic recovery grants. Governor Scott also announced that he would not be holding a press conference on Friday in honor of Fourth of July. Scott is also scaling back on his press conferences. Starting next week, he will only be holding two press conferences a week. One on Tuesdays at 11:00 a.m. and the other on Fridays at 11:00 a.m.

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