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Sterling, VA -- Congresswoman Jennifer Wexton (D-VA) marked National Small Business Week today by announcing that some of the hardest-hit Virginia-10 small businesses have received $156 million from programs funded by the American Rescue Plan. More than $135,947,335 was provided to over 450 businesses in the district from the Restaurant Revitalization Fund (RRF), and $20,129,295 went to local theaters, museums, and other performance businesses through the Shuttered Venue Operators Grant (SVOG).

“Small businesses are the lifeblood of our communities, but over the past eighteen months, COVID has pushed many to the brink of closing their doors for good,” said Congresswoman Jennifer Wexton. “Programs that were funded through the American Rescue Plan delivered a lifeline to some of the hardest-hit small businesses, including restaurants, breweries and wineries, and entertainment venues. I’m proud that more than $156 million has gone to help protect jobs and keep Virginia-10 small businesses afloat.”

Small businesses who are facing continued hardship during the COVID crisis still have options to access federal relief. Last week, the Small Business Administration (SBA) announced a number of enhancements to the Economic Injury Disaster Loan (EIDL) program, including:

• Increasing the COVID EIDL cap from $500,000 to $2 million
• Implementing a deferred payment period of two years after loan origination
• Establishing a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less
• Expanding eligible use of funds to prepay commercial debt and make payments on federal business debt
• Simplifying affiliation requirements

Small businesses, non-profits, and agriculture businesses (including those who have already received a COVID EIDL loan) can find out more and apply now at sba.gov/eidl.

More information about SBA COVID relief programs can be found here.

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