Access to Capital
Access to Capital
LISC Hampton Roads' Small Business Loan Program
Expand 757 provides 0% interest, $0 fee loan financing and coaching services to small businesses in the Hampton Roads region. The purpose of this loan program is to help small businesses in the Hampton Roads community expand, create jobs and build wealth.
LISC Hampton Roads is offering 0% interest, no-fee loans to small businesses, with priority consideration to minority-, women-, veteran-, and immigrant-owned small businesses. All repayments are recycled back into the Hampton Roads region creating a sustainable investment tool. The Hampton Roads Small Business Development Center (SBDC) will provide one-on-one coaching to loan recipients in support of their loan request and usage of funds.
Applications are now open. This is a rolling application and will remain open until all funds have been expended. For more information, click here.
Join us for the Expand 757 webinar this Wednesday, November 9, 2022 from 10 a.m. - 10:45 a.m. to learn more about the program and to ask any questions you may have. The registration link is here.
VBThrive Business Relief Grant Program
The VBThrive Business Relief Grant Program is a collaboration of LISC Hampton Roads and United Way of South Hampton Roads. This grant program is sponsored by the City of Virginia Beach to aid businesses in recovery from the ongoing economic impact of the Covid-19 pandemic. For eligibility requirements and how to apply, click here.
Virginia Beach Small Business Capital Access Program NEW! - Reopen
The City of Virginia Beach announced a new capital access program to provide $400,000 to qualifying small businesses in the form of zero-interest loans. The new program was created in an effort to support the entrepreneurial ecosystem of Virginia Beach and is the result of a collaborative effort between the Department of Economic Development and the Local Initiatives Support Corporation (LISC) of Hampton Roads. Out of the $400,000, $75,000 are available to qualifying businesses.
For questions about the program, please contact us at TheHive@vbgov.com or call (757) 385-2470.
Small Business Readiness for Resiliency (R4R) Program
Small Business Readiness for Resiliency (R4R) Program helps small businesses put plans in place to prepare for disaster and provides immediate emergency funding when necessary. There will be more than 100 grants of $5,000 each, available to be distributed between now and June 2023. Application materials can be found here.
Economic Equity Fund
The Economic Equity Fund is a $10 million loan fund that provides low-cost financing for small business owners who are women and/or Black, Indigenous, or People of Color (BIPOC) and were disproportionately affected by the economic impact of the pandemic. In addition to low-interest loans for eligible borrowers, resources have been allocated to provide free technical assistance and consulting for eligible small businesses and community-based partners. It’s a rolling application. It closes December 31, 2024.
More grants can be found here.