Supporting Small Businesses
Navigating COVID-19 and Beyond
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News & Resources
Find resources for businesses during the COVID-19 crisis.
Information and Resources During the COVID-19 Outbreak
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Access a checklist and guided process to evaluate and reopen your business!
A Process to help you navigate how to move forward with your business during and after the COVID-19 pandemic
The Virginia SBDC network has developed the Business Recovery webpage to help owners carefully plan for and execute their businesses’ new strategy. Reopening a business under current circumstances requires owners to make a careful analysis of the current situation, their capabilities, and goals. They must recognize how the market and customer has changed- the same applies to businesses that were able to continue operations. Additionally, businesses will need to calculate the new operating costs they’ll incur with additional safety measures. It might also necessitate owners to re-imagine their business concept. The detailed guidelines in the Business Recovery web page cover a broad range of critical considerations for business recovery.
Rebuild VA Grant Opens Applications Beginning August 10
The state of Virginia is launching a new grant program for small businesses and nonprofits called Rebuild VA. The program will provide grants of up to three times the applicant’s average monthly eligible expenses up to a maximum award of $10,000. The application will become available on August 10, 2020.
These grants are aimed at assisting small businesses and nonprofits that have faced economic distress as a result of the COVID-19 pandemic. Eligible entities include those in the following industry sectors: restaurant and beverage service, non-essential retail, exercise and fitness, personal care and personal grooming, entertainment and public amusement, private campgrounds, and overnight summer camps.
This statewide program is capitalized with $70 million, which means the grant will be able to assist approximately 7,000 businesses. Half of the proceeds will be directed toward small businesses and nonprofits located in economically disadvantaged areas, including ensuring adequate representation of women-owned and minority-owned businesses.
More details about the program, including eligibility criteria, may be found by visiting https://www.governor.virginia.gov/rebuildva/ . You can also find information on our web site www.loudounsbdc.com, or reach out to one of our business coaches with any questions: www.loudounsbdc.com/contact-us/.
Phase ii of leesburg business infusion grant opens on september 8
The Town of Leesburg will begin accepting applications for a second phase of business relief grants, using federal CARES Act funding, beginning Tuesday September 8 at noon E.T. The application period will close at 5 p.m. on Wednesday, September 23, 2020.
For Phase 2 of the grant program, the Town made several changes to the eligibility criteria, including:
- Lowering the revenue loss threshold from 25% to 15%.
- Changing the grant award tiers to $1,000; $2,000; $5,000; $10,000; and $15,000.
- Expanding the annual revenue criteria to include businesses with as little as $2,500 to as much as $2.5 million in annual revenue.
To date, 176 businesses have been awarded grants through Phase 1 of the program. In Phase 1, the Town focused on helping the small businesses that did not qualify for funding from Loudoun County. In this second phase, the program will be expanded to include more businesses.
The online application will be available beginning September 8, 2020 at www.leesburgva.gov/CARESGrants. For more information, or assistance with an application, you can contact Melanie Scoggins, Business Development and Retention Manager, at firstname.lastname@example.org or 703-771-6676.
Can I Get Help with the Loan Preparation Process?
Yes! The Loudoun SBDC has coaches that can help you with loan package preparation. If you have questions about the process or need assistance in gathering information or filling out application forms, contact us and we will get you connected with a coach as soon as possible. NOTE: All coaching through the SBDC Loudoun is free of charge.
To help you understand the EIDL Application process we’ve prepared this video overview and guide for the new streamlined application:
SIMPLer ppp Forgiveness available for loans of $50K or Less
The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
About the SBDC Loudoun
Resources for business growth
The Loudoun Small Business Development Center (SBDC) was created to promote entrepreneurship and small business growth. It fulfills that mission by providing one-on-one coaching, educational offerings such as 1 Million Cups and workshops like How to Start a Business and the Business Plan Boot Camp as well as information on all aspects of small business management. From start-up through growth stage, we provide current and innovative resources and support small businesses that go on to achieve their greatest success.