The Louisa Small Business Opportunity Fund program (the program) funds have been made available by the Louisa County Board of Supervisors from the County’s Coronavirus Relief Funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Administration of the program will be coordinated by representatives of various departments within Louisa County government as well as the Louisa County Industrial Development Authority. The program provides a one-time, emergency grant to eligible, for-profit small businesses in Louisa County to assist with unplanned expenses and lost revenue as a direct result of mandated business closures and interruptions due to the coronavirus. There are a limited number of funds available for this program. If Louisa County receives more qualifying applications than available grant funding, the qualifying grant recipients will be selected by live, random drawing. Applications submitted without all required documentation will be deemed incomplete and, therefore, ineligible for consideration.
All program applicants are encouraged to consult the Central Virginia Small Business Development Center (CVSBDC) to ensure application submittals include all required documentation. The CVSBDC provides strategic, professional resources to small businesses in Central Virginia through:
- Confidential, one-on-one business guidance
- Access to capital education and preparedness
- Custom market and data analysis
- Workshops and training including succeeding online, cyber security, government contracting, capital preparation, start-up, bookkeeping, and more.
These services are provided to businesses confidentially and at no charge, supported by the Small Business Administration, Louisa County and other Central Virginia supporters.
CVSBDC Contact Information: https://cvsbdc.org/free-consultation/
Application Period: Open 12:00 a.m., November 17th, 2020 through 11:59 p.m., November 30th, 2020.
Amount: The grant amount in Round 3 is to be determined by the Board of Supervisors based on eligible applications.
Business Eligibility Criteria:
- Mandated Storefront Closures due to Executive Orders 53/55, OR a minimum of 2 Full-time or full-time equivalent employees on site in Louisa County
- Two part-time employees, each working at a minimum of 20 hours per week will now equal 1 full-time equivalent. Must be demonstrated on form 941 for the most recent quarter
- Gross Receipts less than $2,000,000/year.
- Physical location in Louisa County
- Local taxes current prior to March 1, 2020
- Revenue losses due to unforeseen business interruptions related to COVID-19
- Business operations established and started in Louisa County on or before January 1, 2020
- Locally owned and operated franchise(s) - NO financial support from corporate
- Banks and Financial Institutions
- Franchises that DO receive corporate financial support
Grant Terms and Conditions: CLICK HERE to download a copy.
Use of Funds Spreadsheet: CLICK HERE to download the REQUIRED document.
Documentation Required Checklist: CLICK HERE to download a copy
CLICK/APPLY HERE for the grant application. Note: This is a fillable form that is saved on our website and emailed to us when submitted. You may create an account and finish the application in multiple visits, but saving will not save uploaded documents. All uploaded documents can only be done just prior to submitting the form. Or, it can be downloaded, printed and filled out with Adobe software or manually.
Applications may be emailed to firstname.lastname@example.org, or delivered as paper copies to:
Louisa County Economic Development
1 Woolfolk Avenue
Louisa, VA 23093.
Upon approval of grant applications, funds will be paid to the approved businesses by the Louisa County Industrial Development Authority in the form of a check and mailed directly to the business address provided within the application and completed W-9 form.
Contact: the Louisa County Economic Development office for assistance with your project.
Louisa County Economic Development
1 Woolfolk Ave.
Louisa, VA 23039