The Fredericksburg Economic Development Authority (EDA) on Monday approved funding that will allow about $200,000 worth of grants to be made to 83 small businesses in the City of Fredericksburg.
The grant funds will help the businesses weather the storm of the COVID-19 virus. The grant allocations were recommended by an EDA Taskforce following a very competitive application and review process, and the full EDA endorsed the funding Monday. Applicants will be notified of the status of their grant requests early this week.
The EDA had previously allocated $50,000 into the emergency grant program, and last week Fredericksburg City Council added $54,000 to the program from the Fredericksburg Economic Development Opportunity Fund. The EDA on Monday added another $96,000 in funding to bring the total to $200,000.
The EDA will continue to look at additional ways it can help the business community, and a subsequent round of applications is possible. Subscribe to the weekly Fred Focus newsletter for the latest updates.