Press release – For Immediate release 7.2.20
AEDP and the City of Alexandria will deliver $3.5 million in relief this summer to small businesses from every Alexandria zip code
Alexandria, Va. – Today, the Alexandria Economic Development Partnership (AEDP), a public-private partnership that promotes Alexandria as a premier location for businesses, and the City of Alexandria announced that 309 Alexandria small businesses will receive funds from the Alexandria Back to Business (ALX B2B) grants program. 76 percent of successful applicants qualify to receive $10,000, another 17 percent will collect $15,000, with the remaining 7 percent receiving $20,000. The grant amount is directly related to the size of the business.
“The COVID-19 pandemic poses significant challenges to businesses across the Washington, D.C. region, and Alexandria Economic Development Partnership, with the support of the City of Alexandria, is pleased to provide critical financial support to Alexandria’s small businesses during this difficult period,” said Stephanie Landrum, President and CEO of the Alexandria Economic Development Partnership. “We’re proud to report that this round of the Alexandria Back to Business program will deliver approximately $3.5 million in relief to Alexandria’s small businesses, spread across seven ZIP codes, composed of business leaders from a myriad of racial and ethnic backgrounds. Alexandria’s business community continues to demonstrate resilience in the face of adversity, and AEDP is proud to support our community during the road to recovery.”
The ALX B2B grants program was created to serve all qualifying small businesses in Alexandria. To do so, it was marketed in four languages (English, Spanish, Arabic, and Amharic) through partner organizations, press, direct email campaigns, social media, and individual outreach. Applicants had the opportunity to voluntarily disclose additional demographic data. In total:
- 38 percent of successful applicants self-reported their race and ethnicity as Hispanic or Latino, Black or African American, or Asian American
- 9 percent reported being registered as a small, woman-owned, and minority (SWaM) business
- 8 percent of successful applicants reported that they serve on active duty in either the U.S. Armed Forces, Reserves, or National Guard
Additional demographic information can be found below. AEDP will continue outreach to minority, veteran, and women-owned businesses in future rounds.
In total, AEDP received 356 complete applications. 309 businesses qualified for funding through the program. Of the 48 applicants that did not qualify, most were ineligible due to the total number of employees being outside of the 2-100 employee requirement; delinquent city business taxes; their year-over-year revenue not meeting the stipulation of having decreased by at least 25 percent; or being located outside the corporate limits of the City of Alexandria.
AEDP is in the process of notifying applicants of the results, and, upon completion, the organization will publish the list of grantees on their website. AEDP and the City of Alexandria are working on next steps for further rounds for this grant program, to include the $900,000 that remains from the initial funding. They hope to receive additional funds as a second disbursement of CARES funds are released from the Commonwealth later this summer.
Self-Reported Demographics of ALX B2B Recipients (Pending Certification):
- 49 percent of recipients identified as White
- 22 percent of recipients identified as Asian
- 8 percent of recipients identified as Hispanic or Latin American
- 6 percent of recipients identified as Black or African American
- 15 percent chose not to disclose
- 49 percent of recipients identified as male
- 40 percent identified as female
- 1 percent identified as transgender, or gender non-conforming
- 10 percent preferred not to disclose or answer
Small, Woman-Owned, and Minority (SWaM) Business:
- 9 Percent
U.S. Armed Forces (active duty, Reserves, or National Guard):
- 8 percent
ALX B2B Background:
At AEDP’s request in May 2020, the Alexandria City Council committed $2.4 million from the federal CARES Act appropriations received by the City of Alexandria and allocated another $2 million from the Alexandria Investment Fund, for a total of $4.4 million in local business assistance grants that would be administered by AEDP. Applications were accepted between June 4 and June 8 and were subsequently reviewed by an independent third-party consultant to determine eligibility.
ALX B2B Eligibility Requirements:
Applicants must be able to demonstrate that they have experienced revenue loss of 25% or more due directly to COVID-19 and that their business will be able to recover and remain sustainable post-COVID. Businesses must also meet the below criteria:
- Licensed in the City of Alexandria
- Located in the City of Alexandria
- In operation as of March 1, 2019
- For-profit entity
- Business is in “good standing”
- Intend to remain in Alexandria
- Business employees between 2-100 W2 employees (full- or part-time)
- Locally owned & operated