Virginia Community Capital (VCC) has launched The Resilient Community Loan Fund. This fund established in partnership with the Virginia Department of Housing and Community Development (DHCD), is a $3 million loan fund that will provide critical growth financing, credit enhancements, and technical assistance for small businesses and projects in DHCD’s program areas.
Borrowers that will be considered for this program must be located in communities that are
participating or have participated in the following DHCD programs: Main Street Communities, Vibrant Communities, Community Business Launch, Community Development Block Grant, Industrial Revitalization Fund, Virginia Enterprise Zones, Building Collaborative Communities and Building Entrepreneurial Economies. All cities and counties in the NRV area are eligible for the new loan fund.
Loan proceeds may be used for growth financing, finance working capital, purchase of equipment, purchase of a business or commercial real estate. Eligible borrowers must be a for-profit entity, have a demonstrated ability to manage debt and good credit record. Qualified start-up businesses will be considered. The loan size typically is $50,000 up to $5 million. For additional information, contact Shaun Rai at 540.260.3507 or at firstname.lastname@example.org.