Having problems viewing this message? View it online. Friday, March 27, 2020 STAFFORD ANNOUNCES SMALL BUSINESS CORONAVIRUS DISASTER ASSISTANCE GRANT FUND In an effort to assist Stafford County small businesses adversely impacted by the COVID-19 pandemic, we are launching the Stafford Small Business Coronavirus Disaster Assistance Grant Fund. The Stafford Economic Development Authority has capitalized $250,000 in cash grants for operating capital to Stafford small businesses. This reimbursable grant fund provides capital aimed to meet the immediate needs of businesses suffering substantial economic impact as a result of the COVID-19 epidemic.
The President is expected to sign "Phase Three" Aid Package (CARE Act) today. We will update you in regards to applications and process to apply for this Federal program. In the immediate term, the EDA action to invest the Stafford COVID-19 grants may assist some Stafford businesses. We will review applications by April 3 and expect to make funds available the following week. We will continue to accept applications until available funds are exhausted.
Click here for Program Guidelines >> Click here to start your application >>
For additional questions and to submit your completed application for the Stafford Small Business Coronavirus Disaster Assistance Grant Fund, email [email protected].
SUPPORT LOCAL BUSINESSES
Please continue to support your local businesses and eateries in Stafford. Many are offering services such as take-out, delivery, or both. We continue to encourage all businesses and residents to call or check local establishment's websites and social media for meal options. ADDITIONAL BUSINESS RESOURCES & UPDATES The Phase III Coronavirus Economic Relief Package (CARES Act) is likely to be passed today. The SBA will have details and regulations in place within 15 days. We understand it includes a Paycheck Protection Program that will provide 8 weeks of cash-flow assistance paid by a 100 percent federally guaranteed loan to small employers who maintain their payroll during this emergency. If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven. We hope our limited grant funds may help Stafford firms stay open and employ workers in the immediate term.
Please continue to visit our Coronavirus Business Resource webpage as information and resources available to you are updating constantly. Our Economic Development and Tourism team is here to provide up to date information and resources during the COVID-19 (Coronavirus). Lastly, if you have any questions, concerns, or opportunities during these challenging times, do not hesitate to contact us. Stafford County Department of Economic Development & Tourism GoStaffordVA.com | 540-658-8681 | [email protected] |