Stafford ready to open final CARES Act grants for county businesses
From Stafford County:
Stafford County remains focused on providing support to businesses as they recover from the Coronavirus pandemic. As part of that continued support, the Stafford County Economic Development Authority (EDA) launched three small business assistance grants in August: Stay, Sleep, and Safe in Stafford. The EDA is extending the application deadline with new eligibility revisions to broaden eligibility for businesses impacted by COVID-19.
Applications reopen Monday, September 21 and close on Monday, September 28, 2020. The revisions to eligibility include lowering the percentage loss of revenue from twenty-five percent (25%) to twenty percent (20%) and incorporating a marketing initiative reimbursement.
The EDA Board Members voted Friday, September 11th, to extend the application deadline and revisions in an effort to include more businesses with COVID-19 relief funds.
“Our community has seen a significant economic impact and with the assistance and support of these grant programs, the County hopes to alleviate some of that impact. We encourage the business community to apply now before these limited funds are no longer available,” stated Joel Griffin, Chairman of the Stafford County Economic Development Authority.
These grants are funded using a portion of $2.357M in federal CARES Act the Stafford County Board of Supervisors allocated to the Stafford County EDA.
The Stay in Stafford Business Grant is extended and has $400,000 available in total funds. Grant awards are calculated and based upon the business’s lease or mortgage payments for up to three (3) months.
The Sleep in Stafford Business Grant is extended and has $200,000 available in total funds. This program is specific and designed to assist Stafford County hotels affected by COVID-19 with grant awards determined by the hotel’s documented number of guest rooms.
The Safe in Stafford Business Grant is extended and has $100,000 available in total funds. This program provides a reimbursement costs of PPE, other Covid-19 related equipment, or the costs associated with COVID-19 marketing initiatives.
Available to qualifying Stafford small businesses and nonprofits, the programs will provide direct financial assistance to those impacted directly by the COVID-19 pandemic. General program eligibility requirements can be found online at https://www.gostaffordva.com/coronavirus/. For questions, contact the Stafford County Economic Development & Tourism Department at (540) 658-8681 or email: [email protected], [email protected], or [email protected].