NORFOLK VA – The Norfolk Department of Economic Development received $4 million in CARES Act funds and created a CORE grant program for small for-profit businesses and nonprofits physically located in the City of Norfolk affected by COVID-19. Priority was given to minority and women-owned businesses. Applicants were required to demonstrate that they were operational pre-COVID-19, and that they were suffering negative impacts from COVID-19 closures. Funds were meant to reimburse businesses for the costs of business interruption caused by required closures due to COVID-19.
CORE funds were successfully distributed to businesses in need, ensuring the $4 million in CARES Act were put to good use among the business community of Norfolk. With these funds already depleted and CAP’s new round that started on 1/8/2021, the Department is diligently working towards providing vital financial aid to businesses affected by COVID-19.
Click here and take a look at the businesses CORE funds were awarded to in 2020.