CBS 19 News | Virginia 30 Day Fund reaches milestone
A nonprofit helping small businesses across Virginia that were impacted by the COVID-19 pandemic has now helped its 500th company.
The Virginia 30 Day Fund announced on Wednesday that it has provided financial assistance to 500 small businesses across the Commonwealth.
The fund was co-founded in April by Charlottesville-resident Pete Snyder, and it has raised more than $3 million in that time.
According to a release, this means it can help at least 1,000 businesses.
“We have been in business 62 years and have never seen anything like this. It’s taking all we have to keep going. We are well known and our employees need to keep their jobs and this is our only means of living,” said Pam Hall, who owns Dip Dog Stand with her husband, Grant.
This company in Smyth County was the 500th business to receive assistance from the Virginia 30 Day Fund.
“Small businesses throughout Virginia are still struggling, and for as long as this pain continues, we are going to provide a shot in the arm to as many small businesses and help save as many jobs as possible,” said Snyder. “While there is so much economic pain out there and so much more work to be done, hitting this milestone of funding 500 businesses means that more than 500 families get to keep their dream alive and more than 3,400 Virginians can stay on the payroll for another month. We are so proud to support Dip Dog Stand as our 500th business, and we aren’t stopping there. Our all-volunteer Virginia 30 Day Fund team is committed to raising and distributing the funds at-risk Virginia small businesses need, for as long as the need remains.”
The fund aimed to help at-risk small businesses survive as they waited for federal relief, and its all-volunteer team is continuing to review and approve applications for assistance.
Businesses that qualify for assistance are for-profit small businesses that employ between three and 30 people, are based in Virginia and have been operating for at least a year, and are owned and operated by a Virginia resident.
Funds distributed to small businesses do not need to be repaid, but if a business that was helped wants to “pay it forward,” it can direct money back to the Virginia 30 Day Fund, which will then disburse the money to another business in need.