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Media Contact:
Leah Kosin, Assistant Public Information Officer
lkosin@leesburgva.gov
703-771-2781
Leesburg Town Council Approves COVID-19 Small Business Relief Fund
Leesburg, VA (June 30, 2020) – On Tuesday, June 9 the Leesburg Town Council approved the Leesburg Business Infusion (LBI) grant fund. The Town of Leesburg recognizes that the COVID-19 pandemic has caused economic hardship for many small businesses.
The focus of the Leesburg Business Infusion Grant Program is to provide those local businesses currently facing the greatest financial hardship due to the COVID-19 crisis, with an economic boost. A total of $3,025,000.00, provided through the CARES Act, has been dedicated to fund a Leesburg Business Infusion.
The LBI offers two funding tiers:
- Businesses with 2019 annual gross revenue between $25,000 and $100,000 are eligible to apply for a $2,500 grant, with approximately 200 grants available.
- Businesses with 2019 annual gross revenue between $100,001 and $1,000,000 are eligible to apply for a $5,000 grant, with approximately 505 grants available.
In order to be eligible, businesses must meet a number of criteria, including operating in the Town of Leesburg before March 1, 2020 and being in good standing on all tax payments and related business licenses. A full list can be found at https://www.leesburgva.gov/CARESgrants.
Grants may generally be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business, but cannot be used to replace lost revenue.
Eligible businesses can submit an online application starting at 12 a.m. on Monday, July 6, 2020 at https://www.leesburgva.gov/CARESgrants. The application portal will remain opened until 11:59 p.m. on Monday, July 13, 2020.
Further information will be available in the near future about grants available for organizations in the nonprofit community that were impacted by COVID 19. Anyone with questions should contact OED staff at businessinfusion@leesburgva.gov or 703-771-6676.
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