PURCELLVILLE, Va., April 29, 2020 — The Town of Purcellville would like to remind businesses that Loudoun County’s Business Interruption Fund opens today, April 29, at noon and will remain open for 72 hours, closing at noon on May 2, 2020. You can apply directly through the Department of Economic Development Website and are able to run a test application on the same site prior to official submission.
Background Information: COVID-19 Business Interruption Fund
The Loudoun County Board of Supervisors approved $1.15 million in grant funding for the COVID-19 Business Interruption Fund to support Loudoun businesses impacted by the coronavirus outbreak. The Loudoun Economic Development Authority added $250,000, raising the total to $1.4 million. The fund will open for applications at noon on April 29, 2020, and remain open for 72 hours, closing at noon on May 2, 2020. All submissions will be accepted based on the time stamp, verified by county employees, and placed into a pool, where businesses will be randomly selected until the funding has expired.
General Business Fund: The $1.215 million grant dedicated to the general fund is divided so that 74 businesses with 3-50 employees will be randomly selected for a $7,500 grant and 66 businesses with 51-100 employees will be randomly selected for a $10,000 grant.
Eligible businesses must demonstrate all of the following criteria:
- Have between 3-100 employees;
- 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 appropriately licensed and operational in Loudoun County, Va.
Please note: If you are applying as a home-based business with between 3-100 employees (and meet the other general fund criteria), you are eligible for $7,500.
Agriculture-Based Business Fund: The Board of Supervisors and Loudoun Economic Development Authority made an additional $185,000 fund available for 37 grants of $5,000 for Loudoun’s agriculture-based businesses that may not otherwise be eligible for the general fund.
Eligible businesses must demonstrate all of the following criteria:
- Have between 0-2 employees;
- Your business is defined as a rural business by the Loudoun County Zoning code;
- Participation in the county’s “Loudoun Made, Loudoun Grown” marketing program;
- 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;
- Any type of rural business must be appropriately licensed and operational in Loudoun County, Va.
