Loudoun Chamber | Loudoun Tech Coalition 2019 Buddy Rizer

Loudoun Economic Development Executive Director Buddy Rizer moderates a panel discussion focused on the data center industry at the QTS Data Center in Sterling on October 2019.

The Loudoun County Board of Supervisors this week 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.

The funds were allocated from the $36.1 million in federal funding made available to the county from the Coronavirus Aid, Relief, and Economic Security Act.

The funding follows an initial round of applications for the Business Interruption Fund that distributed $1.4 million in grants to more than 200 randomly selected applicant businesses that met the requirements for three different tranches based on employee count.

The second round of funding will devote $3.7 million to fully fund the first round, distributing grants of $7,500 to the remaining 475 eligible businesses that were not randomly selected in a drawing on May 8. The new grant recipients will be notified immediately on their selection and next steps, according to county officials.

Additionally, the Board of Supervisors allocated $2 million for a third round of funding that will be opened to provide 400 randomly selected applicant businesses with a $5,000 grant. Applicants must demonstrate the following criteria:

-Have up to two W-2 employees (no limit on 1099 contractors);

-Have less than $2.5 million in gross annual receipts;

-Have at least a 25 percent loss in revenue that can be attributed to COVID-19; and

-Be licensed and operational in Loudoun County.

The fund will open for applications at noon on June 3 and remain open for 72 hours, closing at noon on June 6. 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. More information can be found at LoudounBusinessFund.org.

The board also allocated $1.15 million from the CARES Act funding to replenish the county’s Commercial Business Incentive Fund and Rural Business Incentive Fund and directed the Department of Economic Development to consider future rounds of recovery funding.

In total, county officials say the $6.85 million earmarked by the Board of Supervisors and the $250,000 contributed by the Loudoun Economic Development Authority to the Business Interruption Fund will support more than 1,000 of Loudoun’s most vulnerable businesses without increasing the county debt.

Following board approval, the Loudoun Economic Development Authority will administer the grant process and disburse the funds to selected businesses, starting the final week in June. The Department of Economic Development, Treasurer’s Office, Commissioner of the Revenue, finance department and other county staff will assist in administering and vetting the applicants.

(9) comments

hardworkingamerican

It is really for them. My daughter doesn't qualify for anything and she is a sole proprietor. So Loudoun County BOS is nothing but BS. They are liberal hacks that need to be prosecuted for attacks on businesses and our Bill of Rights. BOS must go, along with all other socialist people who want to own everything and control everything. Sick and sad.

amerigirl

If your daughter report income and pay taxes on a Schedule C in your personal tax return she can get PPP. Then a rant about liberals again. RANT RANT RANT. First you want them to cover small business and when they try to do that to cover the most people possible you complain about that too, nothing makes you happy.

Craigmwg1

Will businesses that previously received funding under this program be eligible for the next round?

BobOhneiserEsq

Is there any hope that political donors will be excluded or is this really for them?

amerigirl

This isn't a trump ploy. Any business should be treated fairly regardless of being a current or past donor.

Keepitreal

Let's all remember the people responsible for putting us further in debt and OUT OF BUSINESS instead of opening: Phyllis Randall, Koran Saines, Juli Briskman, Sylvia R. Glass, Matt Letourneau, Mike Turner. Enduring a four year term with these fools seems like a long time, but I assure you, this won't be forgotten.

amerigirl

Sure, the pandemic had nothing to do with it.

amerigirl

How about keeping it real. They didn't start the coronavirus, they are dealing with it. I assure you their actions will be remembered and they will be re-elected

LoudounClear

Boondoggle opportunity light is lit

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.