Richmond, Va. (Newsradiowrva.com) - The Richmond Economic Development Authority (EDA) has approved a $250,000 grant to the Metropolitan Business League for a new water recovery fund established to help small businesses impacted by January’s water outage.
Area small businesses will be able to apply for water crisis recovery support starting March 17. Applications will close at 11:59 p.m. on Mar. 28.
City officials announced the fund Thursday, Feb. 27, saying the fund will be seeded with a total initial investment of $500,000 provided by the EDA, Dominion Energy, and Altria. Fundraising efforts are ongoing, the city said.
The MBL and the City’s Office of Minority Development will hold virtual Q&A sessions on Mar. 6 and Mar. 12. Small businesses can sign up for a session here.
Earlier this month, the city opened applications for a "Water Recovery Fund" for residents. Applicants could request assistance for expenses related to the water crisis, like rent or healthcare. Thousands applied, and applications were paused after three days.
