The Crystal City Business Improvement District (BID) announced today that it will give $100,000 to the Arlington Small Business Emergency GRANT (Giving Resiliency Assets Near Term) Program, which provides immediate financial assistance to Arlington’s small businesses impacted by the COVID-19 pandemic.
Announced by Arlington County on April 16, the GRANT Program is designed to bridge the gap by offering near-term relief for businesses, which may have experienced delays or limitations in receiving Federal relief initiatives. The program will provide grants of up to $10,000 to businesses and nonprofits with less than 50 employees that can demonstrate revenue losses of 35 percent or more as a result of the pandemic.
The funds set forth by the BID will be earmarked for businesses in National Landing, the district that encompasses the interconnected portions of Crystal City, Pentagon City and Potomac Yard.
“Small businesses throughout National Landing have adjusted their operations to help slow the spread of COVID-19. Just as they have supported us, we are focusing our efforts on ways to assist and enhance the long-term viability of these businesses,” said Crystal City BID President and Executive Director Tracy Sayegh Gabriel. “We are pleased to contribute to Arlington County’s GRANT Program, which will enable countless small businesses to stay afloat, retain their staff and continue to serve the community.”
Arlington County expects to open the GRANT Program’s application process in early May. Businesses will be evaluated through a competitive process. Those selected may use the grants for compensation and benefits as well as for other business capital and operating expenses directly related to the immediate impacts of COVID-19.
For more information on the GRANT Program, please visit: https://www.arlingtoneconomicdevelopment.com/covid-19/grant-information/.