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.
Paycheck Protection Program Loan Forgiveness
If you applied for PPP, the loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll). Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. Please find information regarding the new EZ and revised full forgiveness applications for the Paycheck Protection Program below.
Please watch the webinar – How to Navigate PPP Loan Forgiveness by Atlantic Union Bank (AUB) on 08/17/20. Panelists include Mason SBDC director, Timm Johnson and experts from the SBA and AUB.
Employee Retention Tax Credit
The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021
SBA Economic Injury Disaster Loan (EIDL) Emergency Advance
- Please find more information and eligibility here.
Other Financial Assistance
Other SBA Loan Programs
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.
SBA Express Bridge Loan
Express Bridge Loan Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
Facebook Small Business Grants Program for Black-Owned Businesses
The grants program is a part of Facebook’s overall commitment to invest $100 million this year in the Black community. Prior Facebook Small Business Grants Program applicants may re-apply, but prior grant recipients are ineligible. You do not have to use Facebook Inc. products to be eligible. The business owner must be at least 18 years old.
To see if your small business is eligible, please find more information about the grant here.
Capital Investment and Innovation Grant
Grants of up to $200,000 for businesses and building owners that make physical improvements or innovate a business model to continue to serve customers and employees during the COVID-19 pandemic.
Awardees will be reimbursed up to 50% of costs of physical improvements, including any soft costs such as design and consulting services. Grants may be awarded retroactively to any improvements made since April 1, 2020. Work must be completed by December 1, 2020
Must apply by October 30, 2020
Please find more information about the grant here.
Construction and Renovation Permit Rebate
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).
- 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.
Rebuild VA Grant Fund
The Rebuild VA Grant Fund is a program to help small businesses and non-profits whose normal operations were disrupted by COVID-19, including restaurants, brick and mortar retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds.
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 $10,000.
The application will be available starting on August 10, 2020
Prince William Small Business Relief Micro-Grant Program.
The Small Business Relief Micro-Grant Program provides financial grants of up to $10,000 for qualified Prince William County small businesses impacted by the COVID 19 pandemic. Grant funds will assist eligible businesses in maintaining operations and can be used for ongoing expenses such as payroll, rent, and insurance. Program recipients can also use funds to purchase e-commerce equipment or expand websites and online sales capabilities.
WHO IS ELIGIBLE TO APPLY: Prince William County for-profit businesses with less than 50 employees and have experienced sudden financial losses of 25% or more as a result of the COVID-19 pandemic.
City of Manassas Park CARES Act Small Business Recovery Grant Program
People Inc. COVID-19 Forgivable Small Business Loans
Qualifying individuals must reside in Manassas City, Manassas Park City or Prince William County.
COVID-19 $10k Emergency Grants
VA 30 Day Fund
This fund is a forgivable loan.
Boost by Facebook Small Business Grants Program
Grants and Resouces for Artist and non-profit
CARES Act: Loans, Grants, and Tax Programs for Early Education Providers
To access additional grants information, click here.