CHARLOTTESVILLE, Va., April 6, 2020 /PRNewswire/ -- Technology entrepreneur and CEO of Disruptor Capital, Pete Snyder, and his wife, Burson, kicked off efforts today to provide Virginia-based small businesses with immediate financial assistance to meet payroll, preserve healthcare coverage for employees and save jobs while they await recently approved federal funding. The non-profit Virginia 30 Day Fund is designed to be quick, easy, and free of red tape, as small business owners work to keep employees on board in the near term. It is also designed to be open-sourced allowing others to replicate 30-Day funds to help communities and small businesses across the nation.
Seeded by the Snyders with an initial $100,000 of capital, the Fund will provide up to $3,000 to each approved small business. Business and philanthropic leaders across the Commonwealth are making additional pledges, which will greatly expand the Fund's reach and impact at this critical time.
The application process is designed to be quick and easy for qualified small businesses in Virginia:
- Visit va30dayfund.com.
- Fill out a one-page form.
- Submit a brief video (up to three minutes) about the business and its employees.
- Approval will occur within three days, and approved businesses can expect an immediate transfer of funds.
The Virginia 30 Day Fund approval process is powered by volunteer MBAs from the University of Virginia's Darden School of Business and some of the top business minds from the U.S. Chamber of Commerce.
"As a small business owner and a serial entrepreneur, I've never seen a scarier time for both business owners and employees, who are struggling today through no fault of their own," Pete Snyder said. "We need to save as many jobs as possible and come together to provide people with hope, and that's why Burson and I have established the Virginia 30 Day Fund."
Snyder continued: "While the small business assistance on its way from the Trump administration is crucial, it is clear that many need help to survive and retain their employees while they await that relief. Together with the help of so many others across the business community and in nearly every region of Virginia, we will provide small business owners with both funding and hope so they can keep their employees on payroll and keep working to lift our communities through this crisis."
"In this crisis, we don't have time for red-tape. We don't have time for delays. The VA 30 Day Fund is designed to be quick and easy, save jobs and provide a boost to Virginia's small businesses immediately," Snyder concluded.
Initial Founding Members of the VA 30 Day Fund's Advisory Board include:
- Jim Cheng, former Virginia Secretary of Commerce
- Suzanne Clark, U.S. Chamber of Commerce President
- Bobbie Kilberg
- Mark Kimsey, Board Member, Kimsey Foundation
- Virginia State Senator Chap Petersen
- Todd Stottlemyer, former Rector of the College of William & Mary and CEO of CNSI
Virginia businesses that qualify for assistance from the Fund are small businesses:
- Employing three to 30 people;
- Based in Virginia and operating for at least one year;
- Owned and operated by a Virginia resident.
The funds dispersed to qualified businesses by the Virginia 30 Day fund do not need to be repaid. If businesses who receive the Fund's assistance do, at a later date, wish to "pay it forward" to another Virginia small business in need of assistance, they may do so by directing those dollars back to the Fund, which will disburse the funding to another qualified Virginia business.
For more information or to apply, visit va30dayfund.com.
SOURCE Pete & Burson Snyder