The Fairfax County Board of Supervisors voted today to add $20 million in funding to the Fairfax Relief Initiative to Support Employers (RISE) program, bringing total program funding to $46 million.
Fairfax RISE assists small businesses and nonprofits affected by COVID-19. The additional funding will come from the county’s portion of federal CARES Act funds.
"Small businesses are at the heart of Fairfax County’s economy. There is significant need across the community for support and we saw a huge response to the Fairfax RISE program,” noted Fairfax County Board Chairman Jeffrey C. McKay,” I’m proud we could expand this program and support even more of our small businesses.”
The RISE grant program is intended to help address funding gaps that may exist among complementary programs at the state and federal levels and provides relief to small businesses and nonprofits impacted by the COVID-19 pandemic.
Fairfax RISE grants do not have to be repaid. A minimum of 30 percent of the program’s funding is allocated for minority-, veteran- and women-owned businesses. More than two-thirds of the businesses who applied for RISE grants fall within those categories.
More than 2,000 of the original 6,100 applicants were offered grants. The additional funding, along with $1 million from the Town of Vienna, will allow the program to serve at least 4,000 total applicants. At this time no new applications will be accepted. All grants will be offered to the initial applicants who applied, but were unable to be funded due to the volume of requests.
The Department of Economic Initiatives will oversee and monitor the Fairfax RISE grant program. For more information visit the Fairfax County website or contact the Department of Economic Initiatives at Economicinitiatives@fairfaxcounty.gov or call 703-324-5171.