Grants and Loans

Grants and loans

Covid-19 has been a trying time for everyone. The SBA and other government entities are here to help provide you with grants and loans that you need in order to keep your business afloat. 

CARES Act

Paycheck Protection Program (PPP) Update

The Coronavirus Response and Relief Supplemental Appropriations Act that was passed and signed in late December will renew the Paycheck Protection Program to support small businesses and their employees. Official guidance on terms and eligibility from the Treasury and SBA are expected soon (Please be advised that the final rollout of the program may have some changes from what is provided in this document which was released prior to December 27)

The SBA has released additional PPP guidance. It provides information concerning the required procedures for changes of ownership of an entity that has received PPP funds. To learn more about PPP first draw and second draw information, please visit the links below for more information:
The IRS also announced Information Reporting Requirements for Paycheck Protection Program Loans Forgiven under the CARES Act. You can find more information here:
In 2021 alone, a total of 891,044 loans have been approved from 4,942 lenders, totaling $72,740,500,280. Please find more information here.

Paycheck Protection Program Loan Forgiveness

Update: The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars. Please find more information using the links below: 

  • Click here to view the simpler loan forgiveness application.3
  • Click here to view the instructions for completing the simpler loan forgiveness application.
  • Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
As of November 22, 2020, a total of 367,321 payments have been made, totaling an amount of $38,432,262,125. Please find more information here.

SBA Economic Injury Disaster Loan (EIDL) Emergency Advance

EIDL

In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.

The Targeted EIDL Advance aids businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency. Eligible applicants include those who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding. SBA will reach out to those who qualify. Please find some facts and questions about Targeted EDIL Advance here.
Note: SBA resumed accepting new Economic Injury Disaster Loan (EIDL) applications on June 15 to qualified small businesses and U.S. agricultural businesses. Please note that EIDL Advance is no longer available. The Small Business Administration announced on December 30, 2020 that the application deadline for EIDL loans has been extended to the end of Dec. 31, 2021. See Press Release here This extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020 part of the New – EIDL Loan Page
Please find more information and eligibility here. To learn about SBA Cross Program Eligibility for Coronavirus Relief, please click here.

Other Financial Assistance

Small Business Debt Relief Program

As part of our coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020.

For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.

Please find additional information regarding the Small Business Debt Relief Program here.

Rebuild VA Grant

Update: additional $20 Million committed to economic recovery fund. Funding will fulfill pending grant awards for over 300 applicants. Applicants will be notified via email regarding award. See announcement here.

Governor Ralph Northam announced that Rebuild VA, a grant program to help small businesses and nonprofit organizations affected by the COVID-19 pandemic, will expand eligibility criteria and increase the amount of grant money businesses receive.

  • Rebuild VA will now be open to all types of Virginia small businesses that meet size and other eligibility requirements. (No longer limited to certain business categories)
  • Any small business or nonprofit with $10,000,000 or less in gross revenue OR 250 or fewer employees may now apply.
  • Businesses and non-profits that are approved for a Rebuild VA grant may receive up to 3 times their average monthly eligible expenses up to a maximum of $100,000 whichever is less
  • Businesses that previously received a Rebuild VA grant will receive a second award correlated with the updated guidelines.
Please find the 9 most commonly asked questions here
Please find more information here.

City of Manassas Grants

ELEVATE helps residents by providing training programs, support services, and career assistance so they can get and keep today’s in-demand jobs. It helps businesses train incumbent workers and identify the best new hires. ELEVATE is a valuable network of workforce development and education partners to strengthen our communities today and prepare them for the future. Please find more information here.
The City will award $3,000 cooperative marketing and advertising grants to businesses willing to commit $1,500 of their own funds.  Grants may be used for any marketing and advertising purpose.  The total pool of available funding is $150,000. Please find more information here. Please find the application here.

Fairfax City Grants

The Economic Development Office, through the EDA, is committing a total of $300,000 for the Fairfax City ReConnected Outdoors – Winter Preparedness Initiative program with the anticipation of supporting approximately 100 restaurants. Grant funding will be provided upfront with restaurants receiving a maximum amount of $3,000. Restaurants will have to submit receipts for items purchased that were identified in the application. Please find more information about the program here.
The Fairfax City Economic Development Authority (EDA) will be offering the Fairfax City ReConnected Grant (FCRG) Series 2, in collaboration with the Fairfax City Economic Development Office (EDO), in order to provide essential financial support to small businesses impacted by COVID-19. Grant funds will reimburse businesses for their costs incurred by responding to and adapting their services during the Commonwealth’s declaration of a State of Emergency. The Fairfax City ReConnected Grant Series 2 will distribute seven hundred thousand dollars of federal CARES Act funding as $5,000 grants to Fairfax City small businesses. Upon award, grant recipients will enter into a grant agreement with the Fairfax City EDA and will submit reimbursement requests to the FCRG Program Manager. Please find more information here.

Prince William County Grants

ELEVATE helps residents by providing training programs, support services, and career assistance so they can get and keep today’s in-demand jobs. It helps businesses train incumbent workers and identify the best new hires. It is a valuable network of workforce development and education partners to strengthen our communities today and prepare them for the future. ELEVATE helps you by providing training programs, support services, and career assistance so you can get and keep today’s in-demand jobs. Please find more information here.
Rebates of up to $2,000 for permitting fees for renovations and new construction projects. Application accepted on a rolling basis through June 30, 2021 (as long as funds remain). Eligibility:
  • Projects must be less than 100,000 square feet in size
  • Tenant Layout, Alteration and Repair, and New Construction Permits
  • Commercial Real Estate Projects Only
Please find more information about the program here.
Prince William County’s IGNITE grant offers cash to selected high-growth companies and tech catalyst organizations. There are two different grant amounts that you can be offered:
  • $25,000 (Pre-revenue/ startup phase)  
  • $50,000 Pre-revenue with institutional or investor funding or Post-revenue
Please learn more about the IGNITE grant here.

Other Grants

Please find information regarding emergency grants here.
This fund is a forgivable loan. Find more information here.
Please find more information regarding grants and resources for artists and non-profits here.
The SBA recently announced an upcoming Shuttered Venue Operators (SVO) Grant as part of their emergency assistance programs to small businesses. Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employeesSBA is in the process of setting up the grant program and is not yet accepting applications. Read More here Based on the updated information the following guidelines have been disclosed:
  • Applicants must have been in operation as of 2/29/2020
  • Applicants cannot have applied for a PPP loan on or after 12/27/2020
  • Venues in operation on 1/1/19 are eligible for grants equal to 45% of their 2019 gross revenues, up to $10 million
  • Venues that opened after 1/1/19 the grants will be fore the average monthly gross revenue for each full month in operation in 2019 X 6, up to $10 million
  • There will be a priority ranking system in place:
    • First Priority: 1st 14 days of grant awards, for entities that suffered a 90% or greater revenue loss between April 2020 through December 2020 due to the COVID pandemic
    • Second Priority: 2 nd 14 days of grant awards, for entities that suffered a 70% or greater loss of revenues during this same period
    • Third Priority: beginning 28 days after 1st and 2 nd priority awards are made
    • Supplemental Funding: after 1st and 2 nd priority groups are funded, for any 1st or 2 nd round funding recipients that suffered at least a 70% revenue loss for the most recent calendar quarter (as of 4/1/21 or later)
Free legal assistance to small businesses in Northern Virginia during the COVID-19 pandemic, including help with federal assistance, grant and loan programs, leases and employment issues. Learn More
The U.S. Department of Labor has begun to issue guidance of various programs under the unemployment insurance umbrella. Please be aware that there are some details still being worked out by USDOL with respect to implementation. More Information here.
VRLTA in Partnership with DoorDash will award approximately 125 grants of $3,500 each for a total of up to $450,000 in grant money to Virginia businesses, so that local restaurants can continue to thrive. Please find more information here.
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