LEESBURG, Va. (WDVM) — Businesses in Leesburg will be able to get the relief they need soon, if they are financially struggling to due to the COVID-19 pandemic.
The Town Council approved the Leesburg Business Infusion grant fund. This grant will provide an economic boost towards businesses that are facing financial hardships. The director of economic development for the city said over $4.7 million was provided through the cares act to fund LBI.
Russell Seymour, Director of Economic Development said, “If you have 0-50 employees, and you’re looking at annual gross revenue from $25,000 to $100,000; you’re eligible to apply for a $2,500 grant. We have about 200 grants that will be issued through that program.”
Officials said eligible businesses can submit an online application starting midnight on Wednesday, July 6.
The LBI offers two funding tiers:
- Businesses with 2019 annual gross revenue between $25,000 and $100,000 are eligible to apply for a $2,500 grant, with approximately 200 grants available.
- Businesses with 2019 annual gross revenue between $100,001 and $1,000,000 are eligible to apply for a $5,000 grant, with approximately 505 grants available.
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