Business Equipment Acquisition Program Grant

The Business Equipment Acquisition Program (BEAP) Grant is administered by the Roanoke County Economic Development Authority to provide targeted financial support for for-profit businesses located in Roanoke County or the Town of Vinton, Virginia. This initiative is designed to promote local economic growth by assisting businesses in acquiring capital equipment that supports operational expansion and productivity. Through this competitive program, the Authority awards grants that cover up to 50 percent of the eligible equipment purchase cost, with a maximum reimbursement amount of $20,000 per award. The BEAP Grant specifically supports the acquisition of new capital assets that are considered taxable business personal property under Chapter 21 of the Roanoke County Code. Eligible acquisitions include tangible equipment such as machinery, tools, office furnishings, fixtures, and certain types of computer hardware. These must be essential to the business's operations and purchased only after the grant is awarded. The program explicitly excludes non-capital or soft expenses, such as software, payroll, rent, vehicle costs, signage, delivery fees, and taxes. To qualify, applicants must be for-profit entities that have operated for a minimum of one year in Roanoke County or the Town of Vinton. Additionally, they must employ at least two full-time employees (or full-time equivalents), hold a valid local business license, and be in good standing with all applicable ordinances, taxes, and assessments. Importantly, businesses that received BEAP funding during the previous fiscal year are not eligible to apply during the current cycle. The 2025 application period is open now and will close on September 5, 2025. Grant recipients will be notified in late fall 2025. Awarded businesses will be required to purchase the eligible capital equipment within six months from the date of award in order to receive reimbursement. All purchases made prior to receiving a grant award are ineligible for reimbursement. Applications are evaluated competitively, although specific scoring or review criteria are not detailed in the provided materials. Prospective applicants are encouraged to ensure their purchases fall strictly within the program’s eligibility rules, as outlined by the Roanoke County Economic Development Authority. Examples of qualifying acquisitions include computer hardware (excluding software), manufacturing equipment, and business-use tools, among others. While the program’s promotional materials and eligibility documents are comprehensive, no direct contact information such as a phone number or email address is listed in the available documentation. Further inquiry may be required through Roanoke County’s Economic Development office for those seeking additional clarification on the application process or eligibility specifics. There is also no indication of recurring Q&A sessions or pre-application support opportunities.