NOTE: APPLICATIONS FOR THE BUSINESS INTERRUPTION FUND WERE DUE SATURDAY, MAY 2nd. APPLICATIONS ARE NOW BEING REVIEWED
The Loudoun County Board of Supervisors unanimously approved more than $1 million in grant funding for the COVID-19 Business Interruption Fund to support Loudoun businesses impacted by the coronavirus outbreak.
The fund will open for applications at noon on April 29, 2020, and remain open for 72 hours, closing at noon on May 2, 2020. All submissions will be accepted based on the time stamp, verified by county employees, and placed into a pool, where businesses will be randomly selected until the funding has expired.
General Business Fund:
The $1 million grant dedicated to the general fund is divided so that 60 applicants with 3-50 employees will receive a $7,500 grant, and 55 applicants with 51-100 employees will receive a $10,000 grant.
Eligible businesses must demonstrate all of the following criteria:
- Have between 3-100 employees;
- Have less than $2.5 million in gross annual receipts;
- Have at least a 25% loss in revenue that can be attributed to COVID-19;
- Be licensed and operational in Loudoun County, Va.
Agriculture-Based Business Fund
The Board of Supervisors made an additional $150,000 fund available for 30 grants of $5,000 for Loudoun’s agriculture-based businesses that may not otherwise be eligible for the general fund.
Eligible businesses must demonstrate all of the following criteria:
- Have between 0-2 employees;
- Your business is defined as a rural business by the Loudoun County Zoning code;
- Participation in the county’s “Loudoun Made, Loudoun Grown” marketing program;
- Have less than $2.5 million in gross annual receipts;
- Have at least a 25% loss in revenue that can be attributed to COVID-19;
- Be licensed and operational in Loudoun County, Va.
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