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COVID-19 Business Interruption Fund

Grants to Virginia Businesses in Eligible
Locations to Mitigate Losses Due to COVID-19

Agency Type:

Local

Funding Source:

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Loudoun County Department of Economic Development

Deadline Date:

06/06/20 Noon

Description:

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Grants of $5,000 to Virginia businesses in eligible locations to mitigate the financial impacts of the Coronavirus (COVID-19) health crisis. Funding is intended to support local small businesses that have faced at least 25% losses in revenue due to the Coronavirus pandemic. Eligible applicants are located in Loudoun County.

GrantWatch ID#:

GrantWatch ID#: 190120

Number of Grants:

The fund will provide 400 randomly selected applicant businesses with a grant.

Estimated Size of Grant:

The fund will provide businesses with a $5,000 grant.

Additional Eligibility Criteria:

Businesses must be for-profit in order to be eligible for this fund.

Applicants must demonstrate the following criteria:
- Have between zero and two W-2 employees (no limit on 1099 contractors);
- 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 a licensed and operational for-profit business in Loudoun County, Va.
- If the applicant business received a grant from the COVID-19 Business Interruption Fund in the first or second rounds, they are not eligible to apply again.

Pre-Application Information:

The fund will open for applications at noon on June 3, 2020, and remain open for 72 hours, closing at noon on June 6, 2020. All submissions will be accepted based on the time stamp that the application was received, verified by county employees, and placed into a pool, where businesses will be randomly selected until the funding has expired.

Timeline:
- Now-June 6: You will be asked to download, complete and upload a Financial Form and an IRS W-9 Form as part of your application. You are encouraged to fill those out in advance, as they are a required part of your application.
- June 3 at noon: Applications open.
- June 6 at noon: Applications close.
- June 4-8: Businesses will be verified with the Commissioner of the Revenue or the towns, and must be confirmed as being in good standing with the county’s jurisdictions.
- June 9-12: A member of Loudoun County Government staff will call you to confirm application information and application number and resolve any document issues.
- June 9-18: Applications will be vetted for eligibility and prepared for the random drawing.
- June 19: Random drawing will be held, if needed, at the Government Center and broadcast to ensure fairness and transparency.
- June 25: The payment process will begin between the Economic Development Authority and grant recipients.

You may sign up for a reminder email when the fund opens on June 3 by clicking the button on the URL for Full Text below.

Terms and Conditions: https://biz.loudoun.gov/loudoun-business-fund-terms/

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

If you have any questions, please do not hesitate to email loudounbiz@loudoun.gov.

URL for Full Text (RFP):

Geographic Focus:

USA: Virginia: Loudoun County

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