Business Emergency Gap Assistance Program to Open Thursday

FOR IMMEDIATE RELEASE
August 27, 2024

BUSINESS EMERGENCY GAP ASSISTANCE PROGRAM TO OPEN THURSDAY

Funding is available for properties damaged by the 2023 and/or 2024 flooding.

Montpelier, Vt. - Governor Phil Scott and the Vermont Department of Economic Development (DED) today announced that the Business Emergency Gap Assistance Program (BEGAP) application portal will open on Thursday, August 29 at 8:00 AM. BEGAP is a grant program for businesses, nonprofits, landlords, and farms that suffered physical damage from flooding. It is available for properties damaged in 2023 and/or 2024.

"As Vermonters continue efforts to recover from the devastating flooding of the last two years, BEGAP has been an important lifeline for our businesses who often are not eligible for federal disaster grants," said Governor Scott. "I'm pleased we are restarting this program to help more employers receive the necessary support to rebuild, reopen, and bring people back to work."

"We understand that the challenges faced by our businesses and nonprofits have only intensified with the recent floods," said DED Commissioner Joan Goldstein. "Our team at DED has been working diligently to relaunch BEGAP and ensure those impacted in both 2023 and 2024 receive support to rebuild and reopen. While we know this funding won't make them whole, we are hopeful that it will provide a crucial step towards recovery."

Property that is eligible for 2023 BEGAP funding may also be eligible for 2024 BEGAP funding. Separate applications must be submitted for each year's funding, for each physical location. A business or nonprofit can receive grants for up to three physical locations, per flood.

Before the application opens, businesses and nonprofits are encouraged to visit the Business Emergency Gap Assistance Program page to learn how the program works and what they need to have on hand before they begin the online application process. Eligibility and grant calculations differ depending on several factors.

2024 BEGAP Funding: Applications are due November 15, 2024, for properties affected by the 2024 floods. Grants will cover 30% of net uncovered damages, up to $100,000. Preference will be given to Vermont-based operations, and 10% of funds have been set aside for Black, Indigenous, and Persons of Color applicants.

2023 BEGAP Funding: Applications are due September 30, 2024, for properties affected by the 2023 floods that have not yet already received 2023 BEGAP funding. Grants will cover 30% of net uncovered damages, up to $50,000, and 20% of funds have been set aside for Black, Indigenous, and Persons of Color applicants.

Supplemental 2023 BEGAP Funding: Entities that previously received 2023 BEGAP funding, and have ongoing unmet need, should use the application to submit an inquiry for 2023 Supplemental BEGAP funding. Inquiries that are deemed to be eligible applicants will then receive an email directing them to apply for 2023 Supplemental BEGAP funding. Eligible applicants must have 50 or fewer employees and the previous BEGAP award must have been less than $500,000. Grant amounts (up to $50,000) will be determined by dividing the remaining 2023 BEGAP funds (following the close of 2023 BEGAP applications on September 30, 2024) by the aggregate unmet need of 2023 Supplemental BEGAP applicants. 20% of funds have been set aside for awards to Black, Indigenous, and Persons of Color applicants.

All applicants seeking assistance in preparing to submit this grant application can receive help from the Central Vermont Economic Development Corporation. Fill out their support request form and they will follow up with resources to help.

Agricultural businesses are encouraged to visit the Agency of Agriculture, Food and Markets (AAFM) website for guidance before applying. If agricultural businesses have questions, they can email [email protected]. 40% of 2024 funds are reserved for applications from agricultural and silvicultural businesses until November 15, 2024.

If you are a non-English speaker and need translation assistance, please email 

[email protected]. You will be connected with state-contracted translation and interpretation services.

DED will share a pre-recorded webinar following the opening of the BEGAP application that will walk applicants through the process step-by-step and answer FAQ's.

For additional questions about the Business Emergency Gap Assistance Program please email [email protected].

For the latest update on this program and all flood recovery updates, sign up for the Severe Storm Recovery Newsletter.

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