Financial Assistance Now Available to Eligible Small Businesses Impacted by COVID-19
At their May 19, 2020, meeting, the Prince William Board of County Supervisors voted unanimously to establish a COVID-19 Small Business Relief Micro-Grant program that will provide financial assistance to small businesses that have been economically impacted by the pandemic.
The program, which transfers $5 million in federal funding from the Coronavirus Aid, Relief and Economic Security (CARES) Act to the county’s Industrial Development Authority, offers eligible small businesses grants ranging from $7,500-$10,000.
“Small businesses are the backbone of our community and a source of pride across Prince William County,” said Chair Ann Wheeler. “The Board is committed to making sure they have the resources they need to get through these difficult times.”
The Small Business Relief Micro-Grants will assist eligible businesses in maintaining operations or adapting and reopening following the COVID-19 pandemic.
Applications will be accepted for five days, beginning June 1. The Prince William County Department of Economic Development, along with the COVID-19 Economic Recovery Task Force, will review grant applications for eligibility and obtain any needed additional information.
“This is an incredibly challenging time for small businesses across the county and it’s so important to provide meaningful support,” said Christina Winn, Executive Director of the Prince William County Department of Economic Development. “These grants will help assist numerous small businesses who have been impacted by COVID-19. It’s a step in the right direction to help this community and the county recover.”
To be eligible for a small business relief grant, eligible businesses must:
- Employ between 3-50 people in Prince William County.
- Have gross receipts less than $1,000,000.
- Be experiencing business disruption due to the COVID-19 pandemic.
Click here to download an FAQ about the program.
Click here to download a tip sheet on how to apply for a microloan.
The application and a full list of eligibility requirements and can be found at princewilliamcounty.biz.