RICHMOND, Va. (WRIC) —Organizations impacted by the January water crisis in Richmond will soon be able to apply for their share of the Small Business Recovery Funds. On Wednesday, March 12, the Office of Minority Business Development and the Metropolitan Business League recently hosted a virtual information session to help business owners understand the eligibility criteria and the application process. During the session, business owners were informed that the main factors in determining eligibility would be the financial impact of the water crisis, including lost revenue. To qualify for the grant, applicants must have an annual revenue of less than $3 million, operate in a commercial space, and be in a water-dependent industry. Business owners are also required to submit a 250-word statement describing how the water crisis affected their business financially. Additional documents, such as a business license and proof of location, will also be required. It's important to note that home-based businesses are not eligible to apply. One business owner who attended the session, Nazira Cabrera, who owns Totally New You Nutrition in Southside Plaza, shared that the information session provided helpful insights. “Thank you for the blessings and it will be a tremendous help for our business,” Cabrera said. Cabrera said her business relies heavily on water for its operations, and the water crisis in January resulted in an estimated $2,000 loss in revenue. "It put me behind because I had to make a sacrifice and pay my bills instead of buying my products," Cabrera explained. "If I don't have product, then what's the purpose of opening the shop?" Cabrera emphasized the importance of applying for the grant, no matter the amount. "Even if it's $2,000, $3,000, or $5,000, every little bit helps. It will help toward your bills, your water bill, your monthly expenses," she said. The application period for the Small Business Recovery Fund will open on March 17 and close on March 28. Business owners who meet the eligibility criteria are encouraged to apply as soon as the application window opens. ...read more read less