Figuring out your next steps is not always easy. $1,500,000 The state funding will expand the programs capacity through contracted business coaches to help 60 small businesses. Funding will support the addition of a small business advocate and a loan loss reserve, fund 54 businesses and deploy $1,080,000 into the community. Grant Processing General Instructions (PDF), Sample - Agenda Item with match required (PDF), Sample - Agenda Item with no match required (PDF), 1. Call the HRVBOC at 757-683-5505. Throughout the year, grant-making is directed by our donors to the causes they care about. Available Real Estate; Hampton Business Parks; Publicly owned properties; Making sure it is properly zoned for your business. Thank you for your interest in the COVID-19 Small Business Assistance Program. WebThe grants are purposed to fund grassroots, community-based organizations; and neighborhood groups aiming to create positive activities, services, and programs in the areas of Awareness, Prevention, Intervention, and Re-entry for WebThe Hampton Roads Veterans Business Outreach Center (HRVBOC) is designed to provide entrepreneurial development services such as business training, counseling and mentoring, and referrals for eligible veterans owning or considering starting a small business. Once market validation is complete, LEDC will receive the second tier of funding in the amount of $915,820 to hire lending and technical assistance staff to provide comprehensive, culturally and linguistically competent technical assistance to their target market, expand loan loss reserves and create a $575,000 revolving loan fund to assist 45-60 low- to moderate-income Latino and/or other underserved small businesses in Fairfax County. With the infrastructure of our large region and the feel of a tight-knit community, Portsmouth is the smart move for your small business. For more information, please call (757) 385-4492. For information, please call (757) 558-4455. Available Real Estate; Hampton Business Parks; Publicly owned properties; Making sure it is properly zoned for your business. The Hampton Economic Development department is providing this information as a service to our businesses, applicants and recipients communities in the hopes it will address high-level questions that may arise in this regard. 2. The mission of the program is to provide capital for business, community and economic development purposes with the goal of creating jobs, investment and preserving capital through prudent lending and The Virginia Employment Commission (VEC) is often viewed as an agency to assist displaced workers, however, the VEC also provides many services to employers. WebA A The American Rescue Plan Act Grant The City of Hampton Council allocated funds from the American Rescue Plan Act to the Office of Youth and Young Adult Opportunities to issue additional community grants through 2025. WebVirginia Grants. Freedom First Federal Credit Unions Small Business Fund organization in the United States. Learn more about Veteran and Small Business Programs in the VA Office of Small and Disadvantage Business Utilization Apply for and manage the VA benefits and services youve earned as a Veteran, Servicemember, or family memberlike health care, disability, education, and more. If you have a Twitter account, click the View on Twitter button to view Tweets from our office. LISC Virginia and LISC Hampton Roads will create the Small Business Capital Access Fund to provide 0% interest, no-fee recoverable grants between $10,000-50,000 to small businesses, with priority consideration given to minority-, woman-, veteran- and immigrant-owned small businesses. Rent or mortgage payments on business property. Northam announced a new state grant program on Monday that will take $70 million in federal CARES Act to help small businesses and nonprofits in Virginia. When acquiring products and services, the federal government must award these businesses a fair proportion of total VA property and services purchases, contracts, and subcontracts. SEVACF makes grants and works with fund holders to support promising projects that enhance the quality of life for all those across southeast Virginia through addressing immediate needs while working toward long-term improvements. - Manage notification subscriptions, save form progress and more. Thank you for your interest in the COVID-19 Small Business Assistance Program. Peoples Advantage Federal Credit Union (PAFCU) | Counties of Amelia, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex, the cities of Colonial Heights, Petersburg, and Richmond, and the town of Ashland Monday through Friday, from 8:00 a.m. to 4:30 p.m. Closed on all federal holidays. The responsibility to efficiently maintain a fleet of nearly 300 ships, systems and their support infrastructure is a huge undertaking, and success is only possible through ongoing partnerships between NAVSEA and its large and small business partners in industry. VA will provide businesses with 25 employees or less with funding up to $10,000 for rent, utilities, personal protective equipment and other needs due to the coronavirus pandemic. Serving 92 counties in Virginia, excluding Arlington, Fairfax, and Loudoun counties and the cities of Alexandria, Fairfax, and Falls Church. The Virginia District Office services 92 counties in Virginia, excluding Arlington, Fairfax, and Loudoun counties and the cities of Alexandria, Fairfax, and Falls Church. Additionally, the state is granting $1.5 million to Virginia Community Capitals 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. When we talk about inequities, its not just about business opportunities, Northam said. Half of the $70 million will go to low-income and economically disadvantaged communities. Biden announces aggressive new, Newsfeed Now: Biden to launch new plan against COVID-19, Newsfeed Now: Health experts concerned about COVID-19, Newsfeed Now: Pres. Access to capital remains a challenge for small businesses during the COVID-19 pandemic, said Secretary of Commerce and Trade Brian Ball. This means the federal government cannot open the waters off Virginias shores to oil and gas drilling. Northam sees this initiative as a way to get those locations back on their feet. Our office provides help with SBA services including funding programs, counseling, federal contracting certifications, and disaster recovery. Local Initiatives Support Corporation (LISC) | Cities of Chesapeake, Colonial Heights, Hampton, Hopewell, Newport News, Norfolk, Petersburg, Portsmouth, Suffolk, and Virginia Beach As of now, all grant funds have been exhausted, and the Hampton Economic Development Authority is no longer accepting applications for this program. WebHampton offers a range of incentive programs and services to meet the needs of existing businesses that are expanding and new businesses in the City. The project will leverage $750,000 in loans to help 74 food businesses. Federal Grants. For more information, please call 757-466-1600. Create a Website Account - Manage notification subscriptions, save form progress and more. These grants will provide needed support to our businesses to face the challenges of the pandemic. VSBRF goals include serving small businesses adversely impacted by the COVID-19 pandemic, with an emphasis on those sectors which have been disproportionately impacted or have been economically disadvantaged. WebFinding the right business location. To access the menus on this page please perform the following steps. The purpose of this loan program is to help small businesses in the Hampton Roads community expand, create jobs and build wealth. The SBDC website offers a plethora of information for both potential entrepreneurs and small business owners. 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 loans can be used for payroll expenses, rent or mortgage payments, utility expenses, marketing and other eligible business expenses incurred during normal operations. The Opportunity Zones program was established by Congress in the Tax Cut and Jobs Act as an innovative approach to spurring long-term private sector investments in low-income urban and rural communities nationwide. The Commonwealth provides a variety of funding opportunities for localities, organizations, and individuals. While Hampton city offices and facilities are closed to the public until further notice, the Economic Development team is here to provide business resource information and assistance during this time. Through a careful review process, the Foundations board and staff work together to award grants that strengthen the nonprofit sector. The Virginia Small Business Financing Authority (VSBFA) is the Commonwealth of Virginias economic development and business financing arm. The Virginia SBDC IBD Program will now compete for an additional $50,000 to $150,000 later this summer. Community Investment Collaborative (CIC) will catalyze its next phase of growth with additional capital for lending in four new counties, deploying $350,000 in loan capital, $50,000 in microgrants and $200,000 in operations support and leverage $1.41 million in existing loan funds to help 104 businesses get access to capital, 25 new businesses launched and 154 existing businesses grow. WebThe VBthrive Business Relief Grant Program is a collaboration of LISC Hampton Roads and United Way of South Hampton Roads. ECDC Enterprise Development Group | Arlington County and the cities of Alexandria, Fairfax and Manassas General Grant Application and Information, Downtown Hampton and Phoebus Retail Incentive, Manufacturing & Innovation Assistance Grant. We can also connect you to our partner organizations, lenders, and other community groups that help small businesses succeed. Many grants are made from funds that do not accept requests. Grant Proposal Overview - Fillable (PDF), 5. 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. WebSmall Business and Startups. Monday - Friday (by appointment) Our Mission. The designation, which covers much of downtown and Phoebus, was created to encourage arts-based businesses and cultural institutions to locate or expand in the district. Payment of city tax (payment of delinquent taxes, in whole or in part, will eliminate the EDAs ability to forgive the portion of the loan used for that purpose). Designed to aid small Hampton manufacturers that manufacture, prototype, design and/or develop commodities by encouraging them to seek improvements in production, productivity & competitiveness. Zoning; Codes; Identifying financing resources. Federal Grants. Freedom First Federal Credit Union (FFFCU) will deploy $1.5 million in small and microloans, establish a loan loss reserve and establish an Individual Development Account program for business purposes with a focus placed on small loans and women-, minority- and/or immigrant-owned businesses in distressed communities. (This legislation) has furthered Virginias long-term commitment to restoring all of our waterways from mountain streams to the bay and beyond, said Virginia Executive Director Peggy Sanner. Whether its our numerous business organizations that provide collaboration, support, and partnership or the engaged and active residents that make an effort to shop local and support homegrown businesses, we have the resources you need to be successful. SBSD also provides support to certified businesses through business development and procurement advocacy programs, in cooperation with other agencies and departments. The Downtown Hampton and Phoebus Retail Incentive Grant Program is designed to provide financial assistance to retail property owners and retail business owners located within the Downtown Hampton and Phoebus Master Plan areas. Appalachian Community Capital Corporation (ACC) will build a support network for minority- and immigrant-owned small businesses in Appalachian Virginia by working with the CDFIs that serve small minority-owned businesses in the region. WebSmall Business of the Year Hampton Roads is home to an abundance of top notch small businesses, young entrepreneurs, flourishing startups and small business leaders working A .gov website belongs to an official government The General Assembly had allocated $10 million in fiscal year 2022 to establish a special fund to provide grants to community development financial institutions or enterprises that provide financing to small businesses.The state resiliency fund is granting $1.5 million to Local Initiatives Support Corps. Capacity will be improved through the contract of business coaches to provide critical assistance to 60 small businesses. 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