Alexandria has distributed over $440,000 to businesses around the city as part of a new grant program this year.
In a report to the City Council, city staff said the 2024 Small Business Resiliency (SBR) grant program is set to distribute $440,000 to local small businesses in the city in grants of up to $7,000.
The grant program was administered by the Latino Economic Development Center (LEDC) to help businesses in historically disadvantaged areas of the city.
The grant money is going to 64 businesses, almost all of whom have 10 or fewer employees.
The report said over half the businesses reported revenues under $120,000 with an even split between brick-and-mortar locations and home-based businesses.
“Funds were awarded across seven zip codes in Alexandria,” the presentation said. “None of the recipients had received a previous federally funded city grant, such as the Back to Business grant.”
During the presentation, Dana Wedeles, strategic initiatives officer in the City Manager’s Office, told the City Council that 80-90 applicants were expected, but AEDP received over 140 applicants.
“In large part that’s due to grassroots efforts of the Alexandria Economic Development Partnership (AEDP) going door-to-door throughout the city and talking to businesses about the opportunity,” Wedeles said. “They knocked on over 400 doors.”
City Manager Jim Parajon said part of the reason behind the popularity of the grant is that it had a “relatively straightforward” application process.
“It’s not complicated in terms of its process or approach,” Parajon said.
AEDP CEO Stephanie Landrum said part of the popularity in small business programming and growth in counseling is offering services in a variety of languages.
“We are also now providing services in something like 15 different languages,” Landrum said. “We have the capability to speak accounting in Amharic, as an example. It really is an incredible amount of growth in terms of services we’re able to provide and we’re seeing that work in the number of businesses now engaging with us.”
Photo via Richard Balog/Unsplash
