(Updated 5:40 p.m.) The Town of Vienna is giving $1 million to support Fairfax County’s new grant program to financially help town businesses.
The town announced the news today (Wednesday), saying that it’s giving some of its funds from the CARES Act to the county’s RISE grant program. The town received roughly $2.9 million in CARES Act funding at the end of April, according to the town newsletter.
“While the $1 million being provided by the Town of Vienna is designated specifically for Town businesses only, Vienna businesses also will be eligible for funding through the county grant program beyond the Town’s contribution,” according to the press release.
Natalie Monkou, the town’s economic development manager, said in the press release that the town originally thought about creating its own grant program, but decided that the county had more resources.
“Fairfax County has the infrastructure already in place to execute a grant program for businesses,” Monkou said, adding that the county will give businesses “more immediate access to grant funding.”
At least 30% of the total RISE funding will go to women-, minority- and veteran-owned businesses, she added.
“When we did a business survey a few weeks ago, one of the main things we heard was that businesses need access to capital, and that can be even more true for veteran-, minority-, and women-owned businesses,” she said. “The CARES Act allows us to provide this important assistance to our small businesses.”
The county’s grant program currently has $26 million for small businesses and nonprofits, according to the press release. The grant application will be open from June 8-15.