From Stafford County Economic Development:
The Stafford Economic Development Authority (EDA) CARES Act funded grant applications open today. John Holden, Director of Economic Development & Tourism, notes that “this is ‘Round Three’ of grants for Stafford businesses impacted by the Coronavirus.” In mid-March, the Stafford EDA immediately went into action after anticipating local business impact due to the health crisis, and assembled a COVID-19 Grant program using EDA funding. The demand was tremendous, and the EDA issued a “Round Two” of grants soon after, adjusting the grant eligibility and criteria based on what was learned in Round One. In total, over $450,000 of limited EDA funds were granted to over 120 Stafford businesses.
“I think it is important to understand,” said Holden, “those first round of grants were funded through the Stafford EDA, using limited funds it has to support economic development in Stafford.” Rounds One and Two were based on the maintenance of employment and payroll levels. The EDA had a rigorous application grant review process developed in conjunction with the EDA Board and staff.
The grants that launch today are designed to broaden eligibility for critically impacted business sectors and includes grants for nonprofits. The funds for these grants were provided to the EDA by the Stafford County Board of Supervisors CARES Act allocation. These new grant programs, while available to a broader range of operations, still require documentation by the business showing their impact by the Coronavirus documenting eligible expenses, as per the CARES Act.
Holden said, “The bottom line is, Stafford County and the EDA, want to support our local business community. While we must follow a process, we have had the opportunity to fine-tune our process so that we can get assistance to our business community as efficiently and effectively as possible”. Grant applications will be reviewed for completeness and in the order received. A committee of the EDA will then review them for approval.
Applications are now open. To apply and to find out more information on the CARES Act COVID-19 EDA Business Recovery Grant Programs, visit https://www.gostaffordva.com/CORONAVIRUS/.
