Virginia 30 Day Fund

A nonprofit organization providing forgivable loans to small businesses in Virginia affected by the COVID-19 pandemic.

Background: They seeded the fund with $100,000 and garnered additional support from local philanthropic and business communities. The organization was created to provide rapid financial relief to small businesses unable to wait 30-45 days for federal funding to arrive.

Geographic Scope: Virginia statewide, with specific partnership initiatives in Northern Virginia (Fairfax County NAACP partnership) and coverage across multiple regions including Culpeper, James City County, Bristol, and other areas throughout the Commonwealth.

Focus Areas:

• Small businesses struggling due to COVID-19 economic impact
• Minority-owned small businesses (special focus through Fairfax County NAACP partnership)
• Businesses across various industries (restaurants, bars, collision repair, pharmacies, coffee shops, breweries, fitness studios, sheet metal manufacturers, grocery stores, etc.)

Eligibility Requirements:

• Must employ between 3 and 30 people
• Must be based in Virginia and have been operating for at least one year
• Must be owned and operated by a Virginia resident
• Applicants submit a brief video (90 seconds to 3 minutes) sharing details about their business

Funding Use:

• Payroll maintenance
• Rent payments
• Health care benefit costs for employees

Award Structure:

• Amount: Up to $3,000 per business
• Repayment: 100% forgivable loans - no repayment required
• Pay-It-Forward Clause: Businesses that recover and can afford to repay may do so, with funds reinvested in other at-risk businesses
• Processing Speed: Applications reviewed and decisions provided within a few business days; funds transferred within approximately one week

Program Status: Active as of the articles referenced (April 2020 launch, with ongoing funding through at least mid-2020). By mid-2020, the fund had:

• Raised over $600,000
• Approved and funded 91+ small businesses
• Had a backlog of 1,500+ pending applications

Application Requirements:

• Fill out a brief one-page form with business information
• Submit a 90-second to 3-minute video showcasing the business and its employees
• Upload driver's license and business license

Contact/More Information: Website references direct application portal available on their website.

Application Process

1. Fill out a one-page application form with basic business information including:
   • Business name
   • Owner/operator name and details
2. Upload required documents:
   • Copy of driver's license
   • Copy of business license
3. Submit a video (90 seconds to 3 minutes in length) that includes:
   • Details about your business
   • Information about your employees
   • How you plan to use the funding
   • Can be filmed on a smartphone or camera-enabled device
4. Application Review:
   • Applications reviewed and decisions typically provided within a few business days
   • Fund announced rapid approval process, with funding transfers occurring within approximately one week of approval
5. Funding Disbursement:
   • Money transferred directly to business bank account
   • Transfer occurs quickly after approval (approximately one week)

Required Information

• Business location (must be Virginia-based)
• Number of employees
• Years in operation (must be at least 1 year)
• Owner/operator residency status (must be Virginia resident)
• Intended use of funds (payroll, rent, or health care costs)

Application URL

Applications available through the Virginia 30 Day Fund website (va30dayfund.com or 30dayfund.com)