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Stay in Stafford Business Grant

The Stay in Stafford Business Grant is a new $750,000 grant program to assist small businesses in Stafford County affected by COVID-19. The program is funded using federal CARES Act funds provided to the County of Stafford and will be administered by the Stafford County Economic Development Authority (EDA).

QUALIFICATION CRITERIA

WHAT YOU NEED TO APPLY

APPLICATIONS OPEN MONDAY, SEPTEMBER 21, AT 9AM.

The Stay in Stafford Business Grant was created to assist small businesses in Stafford County affected by COVID-19.  Announced in August, we are opening up a second application window with revised eligibility requirements.  The revised Stay in Stafford program has an available grant balance of $400,000. The program is funded using federal CARES Act funds provided to the Stafford County and administered by the Stafford County Economic Development Authority (EDA)

The program is open to Stafford-based small businesses of up to 50 full-time employees, as well as meet the additional qualification criteria below.  Small businesses in the Food and Beverage, Entertainment, and Retail Trade industries and will be given preference.  Qualifying home-based businesses may be eligible for a pro-rated grant contingent upon the availability of grant funds or an amount determined by EDA Loan Review Committee (LRC).

GRANT AMOUNTS:

Qualified businesses are eligible for a grant in the amount of up to $10,000.  Grant amounts/awards are calculated/based on their lease or mortgage payments for up to three (3) months.  Grant awards to home-based businesses will be based on the availability of grant funds.  Applicants will be required to provide a copy of executed lease or mortgage document (lease cost and principal and interest only, excluded are CAM, NNN, or mortgage insurance costs).

QUALIFICATION CRITERIA:

  1. Physically located within Stafford County
  2. Business may not have more than 50 full-time employees
  3. Business must be registered and current with Stafford County Commissioner of Revenue’s Office as well as current on all Stafford County taxes prior to March 1, 2020
  4. Applicant must be able to demonstrate at least a 20% loss in revenue that can be attributed to COVID-19 (2019 vs. 2020 financial records)
  5. Business must have been established and operational within Stafford County since at least January 1, 2019
  6. Applicant must have less than $2.5 million in gross annual receipts for the 2019 calendar year
  7. Applicants must be for-profit businesses. Non-profit organizations and Hotels/Motels are not eligible; Franchise establishments are not eligible unless locally (Stafford County resident) owned and operated
  8. Businesses that have been awarded a Stay in Stafford Grant are not eligible to reapply. Businesses that were denied a Stay in Stafford Grant are eligible but must meet all other eligibility requirements.

DOCUMENTATION REQUIRED OF APPLICANT:

All applications shall be submitted via online https://gostaffordva.com/coronavirus/.
Applications received via email, mailed and/or hand-delivered will not be accepted.

  1. IRS Form W-9
  2. Q2 2020 Federal Payroll Tax Form (IRS Form 941) or Form 1040-ES for Sole Proprietors
  3. Copy of the Lease Agreement or mortgage payment information of the business
  4. 2019 Federal Tax Returns, including Schedule C Form (if applicable)
  5. Current YTD profit-and-loss statement and/or other statement of business financial standing
  6. Year-end profit-and-loss statement previous year (2019)

GENERAL INFORMATION AND PROCESSES:

The grant will be for an amount of up to $10,000 and calculated/based on their lease or mortgage payments for up to three (3) months.  Grant awards to home-based businesses will be based on the availability of grant funds.  Applicants will be required to provide a copy of executed lease or mortgage document (lease cost and principal and interest only, excluded are CAM, NNN, or mortgage insurance costs).
All grant applications must be submitted via the electronic application which can be found at https://gostaffordva.com/coronavirus/.  Applications received via email, mailed and/or hand delivered will not be accepted.  All requested application materials must be submitted for full grant consideration.
If there are more qualified applications than there are grants funds allocated, applications will be awarded in the order a complete application was received.

Businesses which received a Stay in Stafford CARES Act grant during the first application window are not eligible to apply for a second grant.

APPLY ONLINE

Applications will be accepted starting Monday, September 21, at 9:00 am Once the grant application window closes on Monday, September 28, at 4:00 pm, an internal review process will begin. Your application will be assigned to a member of the Stafford County Department of Economic Development and Tourism Staff for review and determination the businesses meets the minimum requirements for eligibility.  A member of the Stafford County ED&T staff will contact you directly regarding any questions/concerns which arise during your grant application review. Businesses which received a Stay in Stafford CARES Act grant during the first application window are not eligible to apply for a second grant.