Loudoun Economic Development will partner with Purcellville and Hillsboro to administer another round of COVID-19 Business Interruption Fund grants in September. This follows last week’s decision by the Loudoun Board of Supervisors to dedicate $4.3 million of CARES Act funding for business grants, $3 million of which will be made available in this round.
The partnerships will allow businesses throughout the county to apply for grants using one standardized application and process, while creating additional opportunities for businesses in those two towns.
The combined fund will disperse more than $3.45 million and the open application period will run from noon on September 23 to noon on September 30. For eligibility details and the application, please visit LoudounBusinessFund.org.
“This collaborative partnership will get grant funding into the hands of more than 600 Loudoun business owners in the quickest and most efficient way possible. Purcellville and Hillsboro have done more than just dedicate their CARES Act funding—they have also dedicated staff time to ensure that the expanded process runs smoothly,” Loudoun Economic Development Executive Buddy Rizer explained. “We look forward to providing a new round of business grants and encourage every #LoudounPossible business to check their eligibility.”
All businesses applying for COVID-19 Business Interruption Fund grants in this round must meet the following criteria:
- Have between zero and 100 W-2 employees (no limit on 1099 contractors);
- Have less than $5 million in gross annual receipts;
- Have been in operation prior to March 1, 2020;
- 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.
- Applicants that received funding in any previous round of the county’s Business Interruption Fund (in the first, second, third or fourth rounds) or through a similar grant process offered by any of Loudoun’s incorporated towns will not be considered eligible for this round of funding.
Businesses located in Purcellville or Hillsboro can select the town on their application, which will allow them to be considered for separate funding, but not excluded from the county funds as well. Here’s what that means for each town:
Purcellville: The Purcellville Town Council allocated $450,000 to this round, providing 90 businesses with $5,000 grants. Applicants located in the incorporated town of Purcellville will be required to meet the above criteria, as well as be operational and in good standing with the town. If more than 90 businesses meet that criteria, then grant recipients will be selected via random drawing, and all eligible Purcellville businesses that do not receive funding will go back into the county’s random drawing process to be completed on October 23.
Hillsboro: The Hillsboro Town Council committed to evenly funding all 18 businesses located within the town limits that do not get CARES Act funding from the county. Because this funding amount is likely to be less than $5,000, Hillsboro will defer to the county’s random drawing on October 23 before evenly dividing its business funding among the remaining unfunded businesses.
Each incorporated town in Loudoun County received CARES Act funding, and each town dedicated funds to various business relief efforts.
All businesses located in a town other than Purcellville or Hillsboro are encouraged to check with the town staff or elected officials to learn more about the grants and programs offered through that town.
Loudoun business owners are encouraged to visit the website and sign up for a reminder email when the fund opens on Sept. 23. For eligibility details and the application, please visit LoudounBusinessFund.org.