Virginia Small Business Resiliency Fund Launches with Grants for Hampton Roads
The new Virginia Small Business Resiliency Fund program launched with more than $9.7 million in grants for 12 projects throughout the state, former Gov. Ralph Northam announced Jan. 13. The fund, developed by the Department of Housing and Community Development, expands access to capital and technical assistance for small businesses adversely or disproportionately affected by the COVID-19 pandemic, according to a news release. Additionally, the state is granting $1.5 million to Virginia Community Capital’s Economic Equity Fund Initiative to provide low-cost financing for 15 or more small-, women-, and minority-owned businesses while expanding its loan loss reserve and building internal capacity by hiring a technical assistance provider for clients and borrowers.