COVID-19 Business Interruption Fund Terms and Conditions: Round 3

The COVID-19 Business Interruption Fund (“The Fund”) is administered by the Economic Development Authority of Loudoun County, Virginia (EDA). Applications will be accepted between June 3, 2020, and June 6, 2020. Winners will be chosen by a random drawing of all eligible and certified applications on or around June 19, 2020.
In the event that an announced winner fails to satisfy any of the Terms & Conditions, the Loudoun County Government and the Loudoun County Economic Development Authority reserve the right to later check on how awarded funds were spent.

All materials submitted to The Fund will be treated as public records and subject to the Freedom of Information Act (FOIA) rules and regulations. If you have questions or concerns about this requirement please contact the Department of Economic Development at 1-800-LOUDOUN before submitting your application.

Eligibility Requirements

  1. To be eligible, Applicant must be a licensed and operating business entity in Loudoun County, Virginia;
  2. Applicant must have a physical location in Loudoun County;
  3. Applicant business must have 0-2 employees (no limit on 1099 independent contractors);
  4. Applicant must have less than $2.5 million in gross annual receipts for the 2018 and 2019 fiscal years;
  5. Applicant must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19;
  6. Applicants must be for-profit businesses. Non-profit organizations are not eligible;
  7. Applicants must complete an online application and provide a completed W-9 form and financial documentation that certifies the business’s revenue and projected impact related to COVID-19.
  8. 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.

How to Enter

To apply for The Fund, please complete the application found here: LoudounBusinessFund.org

Criteria

Applicant business must demonstrate:

  1. Between 0-2 employees (no limit on 1099 independent contractors);
  2. Gross receipts from 2018 and 2019 of less than $2.5 million;
  3. At least a 25% loss in revenue that can be attributed to COVID-19;
  4. That the business is a licensed and operating business within Loudoun County, Va.
  5. 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.

Selection Process

  1. Applicants will submit their online applications through The Fund website during the open application period. The application calls for contact information, business information, and a brief narrative of the impact that COVID-19 has had on Applicant’s business.
  2. County staff will screen applications for eligibility and reach out for follow-up information, including business documents to be sent via email. Contact from a Loudoun County Government staff member at this point does not guarantee your selection for a grant.
  3. Applicants that can verify that they meet the grant criteria will be placed into a pool for final consideration. At least 400 businesses with 0-2 employees will be randomly selected for a $5,000 grant. All businesses will receive contact from DED to confirm their selection or non-selection.
  4. The EDA will disperse the funds to the randomly selected businesses starting in late June.

Grants

At least 400 $5,000 grants will be randomly selected from the pool of applications that meets the eligibility requirements.

Terms & Conditions

  1. Application for The Fund constitutes an unconditional agreement to and acceptance of the Terms and Conditions. The Applicant is responsible for ensuring his or her familiarity with the Terms and Conditions.
  2. By submitting an application, the Applicant certifies that it is not under any agreement or restriction that prohibits or restricts its ability to disclose or submit the materials included in the application or otherwise to apply for The Fund.
  3. Applicants acknowledge and agree that information submitted by Applicants will be used in the promotion of The Fund and will be displayed on public webpage(s) showcasing selected businesses.
  4. In consideration of the time, expertise and other resources provided by the EDA, the Applicant, to the full extent permit by law, by submitting an application voluntarily releases the EDA and the County of Loudoun from any and all claims, actions, damages, costs or liabilities of any kind relating to or arising from or in connection with the awarding, advertising, receipt, and/or use or misuse of grant or participation in any COVID-19 Business Interruption Fund-related activities

To apply, please visit LoudounBusinessFund.org.

Frequently Asked Questions

When is the deadline for applying?

All applications must be received between noon on June 3 and noon on June 6 in order to be considered for the grants.

What defines an employee?

For the purposes of the  COVID-19 Business Interruption Fund, employees are defined as workers who receive a W-2 from a business. Independent contractors who work for the applicant’s business under a 1099 form are not counted as employees of the business.

Why are employee numbers capped?

For this round of the Business Interruption Fund, businesses must have between 0-2 employees. We recognize that each eligibility requirement excludes businesses that need financial support, but the fund is intended as one piece of the county’s overall small business support during this trying time. The Board was presented with multiple options for the fund and chose the parameters being used to administer the grant awards. Other rounds of the Business Interruption Fund were designed for businesses with more employees, but this round is targeted for Loudoun’s businesses with 0-2 employees. We will be gathering all the information provided through the grant and directly from businesses in order to provide the Board a full report.

Are non-profit organization eligible to apply?

No. Businesses must be for-profit in order to be eligible for this fund. Loudoun County has made additional funding available for non-profits. Program details are still under consideration; please check Loudoun.gov for updates.

I'm having technical trouble applying. What should I do?

This is a web-based form only. It is strongly encouraged that you use the latest browser version for Google Chrome, Safari or Firefox in order to apply.

If you complete the application, including all required fields, press Submit and DO NOT see a confirmation message on the screen, then your application has not been successfully submitted. Please contact loudounbiz@loudoun.gov and we will do our best to help.

If you do not have access to high-speed Internet, please visit the parking lots of the Middleburg, Purcellville or Lovettsville libraries for access to free, high-speed Internet.

Can I save my application and return later?

Yes. The form allows users to save their progress and return later, to finish during the open application period (noon on June 3 to noon on June 6). Applicants who have not yet submitted their applications will get periodic reminders to finish the form before the window closes. Applications submitted after noon on June 6, no matter when they were initiated, will not be considered eligible.

How will my submitted information be used?

Submitted information will be used to determine the eligibility of the business applicant. Additional communication with Loudoun County Government staff will be to verify the information provided.

Information submitted for this grant becomes public record and subject to requests in accordance with the Freedom of Information Act. We cannot exclude anyone’s submitted information from that process.

What are the next steps?

Once the application process closes on June 6, an internal review process will begin. Your application will be assigned to a member of the Loudoun County Government staff, who will call you between June 9-12 to confirm your information.

Once all information is submitted and confirmed, the County Treasurer, Director of the Department of Finance and Budget, and the Executive Director of the Department of Economic Development will review all applications to ensure that businesses meet the minimum requirements for eligibility.

All vetted eligible businesses will be placed into pools for random drawing of grant recipients, which will be conducted in a transparent way, starting at 2 p.m. on June 19.

All applicants will be contacted after the random drawing is complete to confirm that they received or did not receive the grants. At that point, businesses will be required to provide financial information to transfer the funds, which will begin the week of June 25.

Can I get this information in another language?

Businesses are encouraged to view the page using their browser’s translation tools and follow up with us at 1-800-LOUDOUN for more translation assistance.

In accordance with Title VI of the Civil Rights Act, Loudoun County Government is committed to ensuring that limited English proficient individuals have equal and meaningful access to county benefits and services. We utilize both phone interpretation services and written translation services when appropriate.