Va. Community Capital offers funding for minority, women-owned businesses
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Virginia Community Capital’s new “Open for Business Loan Fund” is now accepting funding applications from minority and women-owned small businesses in the Richmond region.
The fund, supported by a $1.5-million grant from Wells Fargo, offers low-interest loans for eligible borrowers and offers technical assistance and consulting for eligible small businesses and community-based partners in the region.
A total of $1,000,000 in loan capital (priced at 3%) is designated for loans generally sized between $50,000-$250,000, according to VCC.
Eligible uses include:
• business acquisition;
• debt refinancing;
• equipment financing;
• owner-occupied real estate;
• Working capital lines of credit.
Eligible businesses must have been in operation for at least 18 months and be located in Henrico, Richmond, Hanover, Chesterfield, Powhatan, Goochland, Ashland, Petersburg, Hopewell, Colonial Heights or New Kent.
For details, visit https://www.vacommunitycapital.org/our-impact/open-for-business-loan-fund.
