The county Department of Economic Development tallied 1,247 applications for grants from Loudoun’s Business Interruption Fund during the three days applications were open.
Grant winners are scheduled to be selected at a random drawing tomorrow.
The window was open to accept applications from noon April 29 until noon May 2. Some of those applications, said Loudoun Economic Development Marketing and Communications Manager Brian Tinsman, may be duplicates.
He said he expects the department will finish its work today to determine which applications meet the program’s eligibility requirements, working with the county budget office and Treasurer Roger Zurn.
The grants are for businesses with 3-100 employees, as well as businesses in the Loudoun Made, Loudoun Grown program with two or fewer employees. The fund was set up to help some businesses bridge the gap while they wait for help from the state and federal governments.
But only some of those qualified businesses will get funding. There is $1.4 million in funding available, which will go to 177 randomly selected qualifying businesses that apply during that window.
The fund includes $1.15 million approved by county supervisors on April 21, with another $250,000 pitched in from the Economic Development Authority.
Funding available includes $185,000 for agricultural businesses in the Loudoun Made, Loudoun Grown program with up to two employees; $555,000 for businesses with 3-50 employees; and $660,000 for business with 51-100 employees. Grants will be made for $5,000 to 37 agricultural businesses; $7,500 to 74 businesses with up to 50 employees; and $10,000 for 66 businesses with 51-100 businesses.
Businesses must also have less than $2.5 million in annual gross receipts and show at least at 25 percent loss in revenue attributable to COVID-19.