City launches Triple A Business Assistance Program for small businesses
The program is made possible by American Rescue Plan Act funds
The City of Richmond’s Office of Minority Business Development (OMBD) is accepting applications for the Triple A Business Assistance Program. The program is designed to provide professional, targeted assistance to local, small businesses recovering from the consequences of the pandemic.
“The pandemic has thrown everything it has at small businesses in Richmond, and still they are the beating heart of this city,” said Mayor Levar Stoney. “The Triple A program is just one way we’re using American Rescue Plan funding to express our gratitude for the community’s resilience, support its recovery, and keep moving forward.”
Triple A stands for the program’s three core steps: assess, address, and activate.
- Assess - Businesses will undergo an extensive assessment tool to identify the firm’s strengths and weaknesses, as well as make recommendations for improvements
- Address - Upon undergoing the assessment, the business will be assigned a business strategist to develop a business plan that will address the issues and position the business for growth.
- Activate - Resources are identified and provided to the business to execute the strategy outlined in the business plan to include, if determined, financial assistance.
All activities will be used to build, support, and strengthen businesses. The program will be implemented with ARPA funds and benefit from the expertise of local partners and entrepreneurs.
Businesses interested in participating must complete the program application by visiting https://bit.ly/3IEwKsy. The application deadline is February 15, 2022. Slots are limited for the program. Participants will be selected via a selection committee.
The OMBD will host two information sessions to discuss the program, its requirements, and how to apply. All businesses are encouraged to attend. The sessions will be held virtually on Thursday, February 3, 2022 at 12 p.m. and Wednesday, February 9, 2022 at 6 p.m. Registration is required in order to receive the Microsoft Teams Meeting link. To register for one of the information sessions, visit https://bit.ly/3I6pFAs.
- Business must be physically located in the City of Richmond (Paid Business License);
- Business must have no more than 50 employees and/or independent contractors;
- Business revenue must not exceed $750,000 annually;
- Business must have been in business a minimum of 3 years;
- Business must be in good standing with the State Corporation Commission (SCC); and
- Business must be registered with the Office of Minority Business Development.
Businesses can obtain more information about the Triple A Business Assistance Program and other Technical Assistance Programs on the OMBD’s website: www.rva.gov/mbd.
For more information or if you have any questions about the OMBD Business Development, contact LaQuiana Bailey at (804) 646-1875 or firstname.lastname@example.org.