Virginia’s Fairfax County Board of Supervisors approved $2.5 million to launch the Fairfax County Small Business COVID-19 Recovery Fund.

This new fund was created to support small businesses in the region that are suffering from the economic fallout of the coronavirus pandemic. Eligible small businesses can apply for loans up to $20,000 at 0% interest. Funding can be used to cover any operational expenses including rent and debt payments.

Loans will be available to for-profit business with one or more commercial locations in Fairfax County that have fewer than 50 employees total and have been in business for two or more years. Businesses must also possess a valid Business, Professional and Occupational License.When applying, some of the required documents to show finances for the past two years include a monthly sales history, tax returns, current profit-and-loss statement.

READ FULL ARTICLE HERE