Fairfax And Northern Virginia Free Grants And Loan Programs
Fairfax County Virginia Latino owned businesses can get assistance, including access to a micro-loan fund, from the Latino Economic Development Center. The non-profit also supports all of northern Virginia, with a focus on low income Latino communities. There are loans, help in creating a business, financial management services, information on raising capital, and other free advice too. Learn more.
Fredericksburg MWBE businesses can turn to the non-profit Joshua Hand. The organization may have funds, in the form of low cost loans or grant applications, to help minority businesses get the capital they need. It is a faith based charity that arranges capital, gives professional development, workshops on business skills development and so much more. The non-profit also partners with Growth Church on this assistance. Find details.
Harrisonburg and Rockingham area businesses owned by people of color can get help from a program called B³, which is Black and Brown Owned Business Growth Program. There are several aspects of it, including business plan development, networking, help in getting business funding/capital/loans, and more. The service will help businesses and startups owned by Black or Brown people. Learn more here.
About Lisc Hampton Roads
We are the Hampton Roads office of Local Initiatives Support Corporation , a national nonprofit that provides financing and support for community development around the country. As one of 35 local offices, LISC Hampton Roads works with local government, community development corporations and other nonprofits to revitalize neighborhoods and catalyze opportunity.
LISC is one of the country’s largest social enterprises supporting projects and programs to revitalize underserved communities and bring greater economic opportunity to residents. We invest in affordable housing, quality schools, safer streets, growing businesses and programs that connect people with financial opportunity. In response to the pandemic, we are delivering resources and expertise to support communities, businesses and people. Learn more here.
Fluvanna County Small Business Grants
During their meeting on June 17, the Fluvanna Board of Supervisors authorized the creation of a small business grant program with a funding level of $350,000. Business owners from Fluvanna will be able to recover from the ongoing health crisis through the Fluvanna Small Business Grants. As a result of the COVID-19 health crisis, Fluvanna grants will help businesses recoup increased operating costs, lost revenues, and other unbudgeted expenses.
There are grants available to assist for-profit companies in Fluvanna and private schools within the county. The number of employees at a business determines the award amount. A grant may be awarded for as little as $2,500 or as much as $20,000:
- Employees with fewer than 0 full-time equivalents: up to $2,500
- A maximum of $5,000 can be allocated for one full-time employee
- Employees between 2 and 20 full-time equivalents: up to $10,000
- The amount is up to $15,000 for employees between 21 and 50 full-time equivalents
- Up to $20,000 per employee if you have 51+ full-time equivalents
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Vbthrive Grants Aim To Help Businesses During Pandemic
Posted: Apr 6, 2022 / 06:17 PM EDT
Posted: Apr 6, 2022 / 06:17 PM EDT
VIRGINIA BEACH, Va. A new grant program is hoping to help businesses thrive coming out of the COVID-19 pandemic.
LISC Hampton Roads, the United Way of South Hampton Roads, and the City of Virginia Beach are partnering up to support businesses through a long-term effort.
Last year, the organizations also helped provide immediate relief to businesses and residents struggling.
We really saw at that time, it was a crisis for a lot of small business, said LISC deputy director Naomi Gunnell. We were really fortunate to deploy those funds relatively quickly and be equitable while targeting where they were needed the most.
But now, theyre working to turn businesses from surviving to thriving mode.
The program will be giving out $10 million in grants for businesses with less than 250 employees and businesses in the tourism, hospitality, and travel industry.
Gunnell says those who apply must show their companies lost at least 15% of their revenue and grants can be used to reimburse expenses for wages and benefits, inventory for ongoing operations, overdue bills payables, weatherization of outdoor spaces, and other operational costs.
Well be providing grants ranging from $10,000 to $50,000 for businesses to really ensure there is that long-term sustainability and understanding that the pandemic is still in full effect, she said.
In April, LISC Hampton Roads awarded $1.1 million to 49 businesses.
Charlottesville Area And Foothills Area Financial Assistance Programs For Mwbe Businesses
Charlottesvilles Minority Business Program provides ongoing, year round support. From time to time, there may be financial help from the Business Equity Fund. They are free mini-grants. The money can pay operating expenses including rent, utilities, inventory, web hosting, and other costs. Other resources are offered by the center to Black, Women, Latino, and other disadvantaged businesses in the city, including counseling, mentoring, networking, technical help and more. Apply here
Minority Business Alliance of the Charlottesville Regional Chamber of Commerce is another non-profit for the community. They offer many services to Black, Latino, and other minority companies. One of them is a grant service, and that is the MBA Endurance Fund. More details here.
Charlottesville based food, beverage, and meal businesses can get help from the Black Entrepreneurial Advancement and Community Opportunity Network which is offered by New Hill Development Corporation. The non-profit is a social service agency for African Americans and they can provide information on capital, business plan development, economic development and other issues. Learn more.
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Virginia Beach Development Authority Offers Small Business Improvement Grants
VIRGINIA BEACH, Va.
If you’re a small business owner in Virginia Beach who has been looking to make improvements to the exterior of your building, the Virginia Beach Development Authority may be able to help.
They group is taking grant applications that could match up to $10,000 for façade improvements of local businesses with fewer than 50 employees.
“This program does more than enhance the attractiveness and marketability of the area, but it can also foster a greater sense of community,” said Taylor Adams, the Deputy City Manager and Director of Economic Development.
“Investing in the look and feel of the outside of a business can reflect what a consumer can expect to experience in the inside. This program encourages owners to ensure that Virginia Beach businesses continue to be an inviting element of our already welcoming community.”
The grant money must be used to make visible improvements to the outside of the business, ranging from new signs, to outdoor cafes, to landscape improvements, to new paved parking for vehicles.
As a business, you can request any amount from $1,000 to $10,000. The program has a total of $100,000 that is available on a first-come, first-serve basis.
Virginia Small Business Grants
With more than $12,670.00 million dollars in grants and additional local government funding sources of $8,970.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in Virginia. There are 150,125 business establishments in the state of Virginia, and they break down to the following:
Virginia Business Sector Breakdown by Size:
- 87,765 registered businesses in Virginia have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 25,737 registered businesses in Virginia have 5 to 9 employees.
- 16,188 registered businesses in Virginia have 10-19 employees.
- 13,712 registered businesses in Virginia have 20-99 employees.
- 3,461 registered businesses in Virginia have 100 to 499 employees.
- Over 3,262 registered businesses in Virginia have over 500 employees.
Virginia Business Sector Breakdown in Service Industries:
If you are in the farming industry, you may be eligible to apply for small business grants as well. There are more than 47,000 farms in the state of Virginia.
To apply for business grants in Virginia, contact Virginia financial aid agencies.
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Virginia Beach Officials Consider $100k Grant To Help Small Locally
VIRGINIA BEACH, Va. The City of Virginia Beach has a new way to help small business owners who have struggled during the coronavirus pandemic.
Officials are considering a new grant program that will give away a total of $100,000 in grants to “mom and pop” businesses in the city. It’s called the District Improvement Program. The citys director of economic development, Taylor Adams, said they’re also calling it, “The Dip.”
It will offer up to $10,000 to locally-owned businesses.
Its proposed to be for businesses with 50 or fewer employees that are not franchisees. So this is very much for mom and pops,” Adams said.
He explained the money must be used to invest in the value of the business.
It can be signage, it can be parking improvements, it can — I dont know if this will happen — it can potentially be outdoor dining space,” he said.
Virginia Beach Mayor Bobby Dyer said this new program is an extension of the successful redevelopment of the Virginia Beach ViBe District. But now, more small business owners in the city can apply for the money.
Trying to help those small businesses not only survive but thrive and to give them the pathway to success,” Dyer said. The idea is to help those small businesses develop and give them the opportunity and the platform.
Gus Frank, the owner of Atlantic Avenues Sunnyside Café and Restaurant, said the grant is something hed support.
Now with the situation the way it is. Every little bit helps,” Frank said.
During National Small Business Week Kaine Highlights Virginia Small Business Success Stories
WASHINGTON, D.C. Today, U.S. Senator Tim Kaine is highlighting small business success stories from across the Commonwealth in honor of National Small Business Week , a week dedicated to supporting small businesses. As the Senate debates additional legislation to support small businesses, Kaine will continue to make the case about why more support for Virginia small businesses is necessary.
Despite facing difficult challenges throughout COVID-19, small businesses have adapted to the pandemic, kept workers employed, and continued to support their communities, said Senator Kaine. Our small businesses are the backbone of our communities. Im glad Im able to share some examples of resilient small businesses across Virginia, many of which have used federal COVID relief to keep the lights on during the pandemic.
On April 20, Kaine announced his initiative to highlight small businesses, and Virginians nominated small businesses through an online portal. Below are some examples of small businesses across Virginia that Senator Kaine received via the portal:
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Applications Now Open For Virginia Beach Small Business Relief Program
VIRGINIA BEACH, Va. – If you’re a small business owner in the Resort City, you have a chance at thousands of dollars in funding.
Applications are open for a relief program in Virginia Beach.
The VBThrive Business Relief Grant Program consists of two categories. Owners can apply for grants for any small business, or specifically for funding towards tourism, hospitality and travel businesses. $5 million are allocated for both categories.
Grants will range from $10,000 to $50,000 – based on the number of employees – to help with a number of expenses.
The program will stop accepting applications on April 19. Applicants must have a licensed, for-profit business in the city and meet the eligibility requirements outlined on the Hampton Roads Local Initiatives Support Corporation website.
To find out more about who is eligible and to apply,
What Is A Grant
A grant is often the first step toward developing a new product, service, or project. Grant programs are beneficial to small businesses because they do not require repayment. Though obtaining and administering grants can take time and effort, they can be an affordable growth option. Submitting a grant application takes a great deal of time and effort. The ability to demonstrate financial capability is required for small business grants. An organization such as a charity, local government, or foundation may provide a grant.
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Initiative Is City Partnership With Lisc Of Hampton Roads
The Virginia Beach Small Business Capital Access Program is offering loans of $15,000 to $25,000 to small businesses, with no payments required for the first six months.
The program, which is a collaboration between the Virginia Beach Economic Development Department and the Local Initiatives Support Corp. of Hampton Roads, provides $400,000 in zero-interest loans to small businesses. It began accepting applications on Jan. 3.
Applicants must have been in operation for two years and incorporated as a business, hold a current business license in Virginia Beach and demonstrate an annual net profit between $50,000 and $1 million.
We are pleased to announce this new program and feel that it can truly make a difference for small businesses in our community, Virginia Beach City Manager Patrick Duhaney said in a statement. Companies with fewer than 250 employees represent 99% of all businesses in Virginia Beach so naturally the city wants to deploy resources to support them.
The city is also providing help through its resource center for small businesses. In August 2021, the city opened The Hive, an entrepreneurial support hub in Virginia Beach Town Center designed to help businesses in the early stages of development get properly established by offering legal, fiscal, marketing, banking, workforce and other resources.
Richmond Area And Central Virginia Financial Assistance Grants And Counseling Services
The Richmond Metropolitan Business League is a non-profit that offers information on a number of microloan programs, grants, and provides other small business assistance. A major focus is on women, veteran, and minority owned businesses, but anyone can apply/join. They operate the City Point Innovation Resource Center as well as many other programs. Learn about the non-profit here.
Richmond Black-owned businesses can get help from the Jackson Ward Collective. They focus on Black entrepreneurs or those with an idea to start a business but that need assistance. Learn about putting a business plan together, getting financing using free government grants or microloans, building credit, and much more. It is a safe community space for ideas, free resources, and short or long term support. Get details on the agency.
Richmond and Petersburg are entrepreneurs and small businesses can get help from the VSU Minority Small Business Launch Center. Virginia State University offers MWBE certifications, free co-working spaces, training programs and much more. There are also pro-bono lawyers that help with business filings or patents as well as information on capital available to minorities, including loans, free grants, Angel Investors and more. Continue reading.
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A History Of Rebuild Va
In July 2020, Former Governor Northam announced the Rebuild VA Economic Recovery Fund for small businesses and non-profits whose operations were impacted by the COVID-19 pandemic. Since then, the Commonwealth has awarded $140 million in funding to over 3,500 small businesses and non-profits. You can view the localities, businesses and amounts that have been awarded in the interactive map below.
In March 2021, the General Assembly and the Governor agreed to fund the program with an additional $25 million. That funding has allowed the program to process some of the existing applications in the pipeline. At this time we are not able to accept new applications. Former Governor Northam and the General Assembly leadership recently announced support to fully fund Rebuild Virginia as part of their shared priorities for the funding from the American Rescue Plan. We will continue to keep Virginians informed of any updates to the Rebuild VA Economic Recovery Fund.
In August 2021, the General Assembly voted to award an additional $250 million to the Rebuild VA program. An additional $130 million was allocated to the Rebuild VA program by the General Assembly in June 2022. With this most recent allocation, we are processing the remaining applications previously submitted. We are not accepting new applications.
For information on how to ensure your application is fully ready for review, please check out the “What do I do while I wait?” section of the For Applicants page on this website.
Virginia Small Business Financing Authority
The Virginia Small Business Financing Authority provides business and economic development financing. Through its programs, the VSBFA provides businesses, not-for-profits, and economic development authorities with the financing they need to grow and expand in Virginia. To accomplish this goal, we provide direct loans to businesses and non-profits, credit enhancements to banks lending to businesses and non-profits, and bond financings to benefit for-profit businesses, 501 not-for-profit entities, and to support clean energy and P3 transportation projects. Through our equity incentive grant program, we also assist small businesses in attracting equity investments.
For over 30 years, we have assisted many Virginia businesses in accessing the capital they need to grow and create jobs. The VSBFA is happy to assist you, whether you are a business seeking a loan or a commercial lender seeking assistance lending to small businesses.
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Hampton Roads Portsmouth Virginia Beach Region Small Business And Start Up Assistance Programs
Hampton Roads Black owned businesses can get financial help, free grants, and other support from BLACK Brands. This in in effect the Chamber of Commerce for the region. It is a Hub that offers networking, free coaching services, advice and support. There is a wealth machine, financial literacy, information on starting a business and other help for Black members of the community. Find details here.
Portsmouth area Minority and Women owned businesses can get help from the city as well as local non-profits. The city will help businesses get MWBE certification as well as help them grow in any way possible. This may include grant money, free counseling, loans, mentoring, free coaching services and more. A wide variety of assistance programs, including financial, help Black women, veteran, and other disadvantaged businesses. Find details here.