Relief: Fairfax County 4/15

The Fairfax County Board of Supervisors voted in their meeting yesterday to approve the establishment of the Fairfax County Small Business COVID-19 Recovery Microloan Fund to complement federal relief funding for county businesses.  The board expects the loan program to be ready by May 1, according to county documents.  The program provides $1.2M to small businesses with fewer than 50 employees.  Businesses who undergo a pre-submission counseling session will be able to apply for loans up to $20,000 and will be able to use the money for costs such as rent, equipment and critical cash operating expenses. The loans will be available on a first-come, first-serve basis and are part of an overall $2.5M coming from the Economic Opportunity Reserve to support economic relief efforts.  The additional money in the fund is being considered for other relief, but after 45 days the staff of the Department of Economic Initiatives who are monitoring the fund may recommend to the Board to add additional funds to the small business program. We will share when we know more about when the Small Business COVID-19 Recovery Microloan Fund is available. 

 

In addition, the Fairfax County Economic Development Authority (FCEDA) has put together helpful resources for Fairfax County businesses. See below for more information. 

 

e-Bird: The FCEDA has an e-newsletter called the e-Bird that provides business news for the County, highlighting resources that might be available, how other companies are adjusting to COVID, and how the community is responding to help individuals and other businesses in the Fairfax community. You can subscribe by visiting their main webpage (https://www.fairfaxcountyeda.org/) and scrolling down to the bottom for the form to sign up. They also have a COVID Business Resource Hub.

 

Matching Program: The FCEDA is matching employers who have had to furlough employees with companies who are hiring temporary workers to meet increased demand in their services.  Companies include Walmart, Instacart and Amazon etc. Contact Mike Batt (Mbatt@fceda.org) if you are interested in learning more.