News Release: Town of Leesburg Announces Second Round of CARES Act Grants to Local Businesses

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Town of Leesburg, Virginia
News Release

For Immediate Release
Thursday, August 13, 2020

Media Contact:
Betsy Arnett, Public Information Officer

Town of Leesburg Announces Second Round of CARES Act Grants to Local Businesses

Approximately 75% of Leesburg businesses could qualify for funding.

Leesburg, VA (August 13, 2020) – At their meeting on Tuesday evening, the Leesburg Town Council approved a second round of business grants, using the CARES Act funding received through Loudoun County. To date, 160 businesses have been awarded grants in the first round, leaving approximately $1.5 million unallocated.

For the second round of grants, the Town made several changes in order for more businesses to qualify for funding. These changes include:

  • Lowering the revenue loss threshold from 25% to 15%.
  • Raising the initial grant amounts from $2,500 and $5,000 to $5,000 and $10,000.
  • Creating three additional grant tiers of $1,000, $2,000, and $15,000.
  • Expanding the annual revenue criteria to include businesses with as little as $2,500 to as much as $2.5 million in annual revenue.
  • Removing the 50 employee limit.

According to Russell Seymour, approximately 75% of the Town businesses are potentially eligible for funding under these revised criteria.

“In the first round of grants, we were focused on helping the small businesses that did not qualify for funding from similar programs,” Seymour explains. “In this second round, we are opening the program up to more businesses.”

All of the businesses that received $2,500 and $5,000 grants in the first round will automatically receive the additional funding for which they are eligible under the second round requirements. These businesses do not need to reapply in the second round.

Seymour anticipates opening the second grant of funding to applications by the end of August.

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