Release Date: September 28, 2020
Beverly Pullen, Fauquier County Department of Economic Development Beverly.Pullen@fauquiercounty.gov or (540) 422-8270
Laura Torpy, Fauquier County Department of Economic Development Laura.Torpy@fauquiercounty.gov
or (540) 422-8270
The Fauquier County Economic Development Department is pleased to announce the allocation of a second round of CARES Act Small Business Recovery grants. At their September 2020 regular monthly meeting, the Fauquier County Board of Supervisors meeting designated a total of $350,000 in grant funding for qualifying County businesses. The funds will support total grants of $320,000 to for profit businesses, and $30,000 for non-profits that are currently receiving annual contributory funds from the county as of FY 2021. Banks, financial institutions, and franchise businesses (except those locally owned and operated) are not eligible at this time.
A grass roots collaborative group with representation from The Fauquier County Economic Department, the Fauquier County Economic Development Authority, the Fauquier Chamber, PATH Foundation, Experience Old Town Warrenton, and the Town of Warrenton worked together to recommend guidelines for eligibility criteria, in conformance with CARES Act funding requirements. The grant funds come at a time when local businesses have been hit hard with reductions in revenue and cash flow. This money will not only help small businesses with operational costs but can also help them adapt to new ways of functioning during COVID-19.
Businesses qualifying for the grant funds will demonstrate a 25% economic injury due to COVID-19 closures or have COVID-19 related and approved expenses up to $7,500. Further eligibility requirements include that the business has been legally operating in the County since October 1, 2019; has fewer than 20 employees; and annual gross receipts of a maximum of $2.5 million in 2019. In addition, the entity must be current on County business personal property taxes; BPOL; real estate taxes; and any other fees or licensing requirements as of October 5, 2020.
Fauquier County Economic Development Department is working with Community Investment Collaborative (CIC) to administer and manage the grant funds. The County will still retain oversight and management of the CARES Act Grant Fund. CIC has worked with many neighboring counties and offers an online platform backed by Lenderfit. Using this platform will help safely and securely streamline the process, and ensure timely distribution of all monies. As a required step in the process, businesses interested in the grant must fill out a grant interest form. This is NOT the grant application. The County will use this information to inform you when the application period is open. The application is scheduled to open on or about October 5th. The link for the grant interest form is https://forms.gle/Yu3hXzhgfu72cdkn8
Fauquier County Department of Economic Development
35 Culpeper Street, Warrenton, Virginia 20186 • phone: (540) 422-8270 | fax: (540) 422-8269