(Photo by Flickr user Joseph, used under a Creative Commons license)
Some Alexandria, Virginia-based small businesses are getting a financial boost with this new COVID-19 grant funding relief program.
The Alexandria Back to Business (ALX B2B) grant program dished out $3.5 million to small businesses in the region, with grant amounts correlating with business size. The program is supported by the Alexandria Economic Development Partnership (AEDP) and the City of Alexandria.
AEDP received 353 completed applications and awarded 303 of those small businesses with grants. An independent third-party consultant reviewed applications, the organization said.
Of the grant funds being distributed, 76% of applicants received $10,000 each, 17% received $15,000 and 7% collected $20,000. About 37% of grant awardees are Black, Asian American or Hispanic-owned businesses.
“We’re proud to report that this round of the Alexandria Back to Business program will deliver approximately $3.5 million in relief to Alexandria’s small businesses, spread across seven ZIP codes, composed of business leaders from a myriad of racial and ethnic backgrounds,” said AEDP President Stephanie Landrum in a statement. “Alexandria’s business community continues to demonstrate resilience in the face of adversity, and AEDP is proud to support our community during the road to recovery.”
ALX B2B was created to serve all qualifying small businesses in Alexandria. The funding for the program came from CARES Act allocations and the Alexandria Investment Fund. AEDP received a $4.4 million to administer funds to local businesses in need of financial assistance.
Some of the small businesses that received grants include Kiddie Academy of Alexandria, Nomad Event Systems, AJS Consulting Engineers, P. C., Alexandria Art & Frame and Illustrate My Design.
Check out the full list of grant recipients, ranging from gyms to spas to eateries, on AEDP’s website.
The ALX B2B application was marketed in four languages — English, Spanish, Arabic and Amharic — to provide further access. Eligible small businesses had to be licensed and operative in Alexandria, for-profit, in operation as of March 1, 2019, intend to remain in Alexandria and have between two to 100 W2 employees.
Since there is funding remaining in the program, AEDP plans to reopen applications soon to distribute another round of grants.-30-
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