What to know about emergency business gap funding

The Vermont Department of Economic Development has announced additional details and guidelines for the Business Emergency Gap Assistance Program. This $20 million grant program is intended to help businesses and nonprofits restore, reopen, and bring their employees back to work after suffering physical damages to their property beginning on July 7, 2023, when severe storms swept into Vermont.

The application portal is expected to open Thursday, Aug. 3, but right now businesses and nonprofits can visit the Business Emergency Gap Assistance Program page to learn how the program works and what they will need to have in hand before they begin the online application process.

Click here for the original press release about the Gap Funding.

The Department of Economic Development is hosting a webinar at 10 a.m. on Wednesday, Aug. 2 to go over eligibility requirements, walk through a sample application, and answer questions. Visit the event page for details on how to join the webinar. Following the webinar, a recording will be posted to the program page.

The Department of Economic Development strongly urges businesses and nonprofits interested in obtaining a grant to look at the web site and join or watch the webinar to educate themselves on the process of applying for a BEGAP grant.

Once the application portal is live, submissions will be approved on a rolling basis until all funds are expended.  For the latest flood recovery updates from ACCD and DED, sign up for the Severe Storm Recovery Newsletter.