Small Business Grants Virginia

Virginia Small Businesses and entrepreneurs may need funding for many reasons. Owners can apply for local, state, and federal government grants. 

Business owners can also seek funds from financial institutions, lenders, and other organizations.

Before submitting new applications for a grant or loans, check what they cover. Learn about eligible expenses, assets, and projects to ensure the business gets funding.

The eligibility requirements, criteria, and regulations for each grant and loan differ. Review each form closely to increase the possibility of becoming a grant recipient.

VA small businesses can apply for different size grants and loans. The type of funding program also varies.

Nonprofits and similar organizations provide in-kind grants.

Here are some small business grants and loans Virginia owners should review.

The Coalition to Back Black Businesses supports Black small business owners. They help small businesses heal from the impacts of COVID-19. 

The multi-year initiative distributes $5,000 grants to eligible small businesses each fall. 

Besides receiving funds, businesses also get mentorship and training. A select few will receive $25,000 enhancement grants the following summer.

It must be in an economically vulnerable community and financially affected by COVID-19.

Skip Small Business Grant Program awards business owners and individuals $1,000 grants. The program's goal is to help power their passion. It accepts year-round applications.

The VSBFA Cash Collateral Program helps Virginia's small businesses get funds. The program helps entrepreneurs start, enhance, or expand their operations. 

Its goal is to support job creation for citizens of the Commonwealth of Virginia.

SBA Debt Relief offers borrowers temporary debt relief during the coronavirus pandemic.

They help entrepreneurs create a business plan, manage cash, and get financing. 

The agency provides free coaching and access to capital. i.e., loans or free government grants. It also offers certification help and more. 

It has several offices in the state of Virginia, including in Richmond and Alexandra.

The SOAR Fund supports small businesses and nonprofits across South and Southeast Virginia. 

The program helps small business owners recover from the COVID-19 crisis. Eligible businesses may receive up to $100,000.

The VBThrive Business Relief Grant Program supports various small businesses in the Virginia Beach area. 

The program offers two separate funds, and grants range from $10,000 to $50,000.

The exact amount of each grant category depends on the company's size and the number of employees.

Fairfax and Northern Virginia Free Grants and Loan Programs is a nonprofit. The program supports Latino-owned businesses in these areas. 

The nonprofit focuses on low-income Latino communities. They help eligible businesses get a micro-loan fund from the Economic Development Center. 

They also provide services to create a business, financial management, and raising capital advice.

The PPP prioritizes millions of U.S. employees employed by small businesses. The program helps companies with job retention and other expenses.

Under this program, eligible recipients may qualify for a loan of up to $10 million. They defer loan payments for six months.

SBA will forgive the part of the loan proceeds used to cover the first eight weeks of payroll and other expenses following loan origination. Yet, this only applies to businesses that maintain their workforce.

Freedom Bank of Virginia and the nonprofit NVTC help minority-owned businesses in Northern VA.

Northern Virginia Incumbent Worker Training Grants help employers support their employees. 

The grant program helps businesses be more competitive and profitable through employee training.

Businesses must provide a minimum matching contribution to the Incumbent Worker Training Project. 

Owners can find the amounts in the State of Virginia policy and based on company size. The matching funds may include in-kind services.

Grants, loans, and other resources are available to Virginia small businesses and entrepreneurs.

Visit the official websites of gov agencies, financial institutions, and nonprofits for more details. Help is not too far away, owners can get financing by looking in the right places.

Start researching online and in the local area to find the funds that meet the small business needs.

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• Minority Small Business Grants