MARTINSVILLE, VA – The Harvest Foundation and the Virginia 30 Day Fund are partnering up to offer a brand new forgivable loan opportunity for small businesses in Martinsville and Henry County called the “Pay it Forward MHC Small Business Relief Fund.”
The Harvest Foundation is investing $1 million in honor of local healthcare workers and front line responders to the Virginia 30 Day Fund that will distribute forgivable loan awards up to $3,000 for businesses employing 3-30 individuals.
The Virginia 30 Day Fund was created by Virginia technology entrepreneur Pete Snyder and his wife, Burson, in response to the COVID-19 crisis.
The fund’s goal is to save as many Virginia jobs as possible while many small businesses wait for mandated shutdowns to end and for federal funding like the Paycheck Protection Program to hit their bank accounts.
“We couldn’t be prouder to partner with The Harvest Foundation to bring the Pay It Forward movement to Southside Virginia. Harvest’s generosity is also matched by their vision and desire to truly help others in this amazing community,” said Pete Snyder, cofounder of the Virginia 30 Day Fund.
In addition to employing 3-30 individuals, eligible businesses must be based in Martinsville-Henry County, operating for at least one year, and owned and operated by a Virginia resident.
Funds disbursed by Pay it Forward MHC do not need to be repaid, but if small business owners wish to “pay it forward” to another Virginia business in need of assistance in the future, they can direct dollars back into the fund to be used in Martinsville-Henry County.
“The Harvest Foundation Board of Directors made an important decision to provide support to local small business owners who need a lifeline during the crisis caused by coronavirus,” said David Stone, chairman of the Harvest Foundation Board of Directors.
To date, more than 340 struggling small businesses have been funded through the Virginia 30 Day Fund.
Apply to click here.