Loudoun County Commits ADDITIONAL $5.7 million in additional grant funding for the COVID-19 Business Interruption Fund
The Loudoun County Board of Supervisors unanimously approved $5.7 million in additional grant funding for the COVID-19 Business Interruption Fund, to support small businesses adversely impacted by the coronavirus pandemic. This funding was allocated from the $36.1 million in federal funding made available to the county through the Commonwealth of Virginia from the Coronavirus Aid, Relief, and Economic Security Act.
There will be $2 million for a third round of funding, which will be opened to provide 400 randomly selected applicant businesses with a $5,000 grant. 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.
This additional fund will open for applications at noon on June 3, 2020, and remain open for 72 hours, closing at noon on June 6, 2020.