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City of Richmond
Housing & Community Development 

Main Street Station
1500 East Main Street, Suite 400
Richmond, VA 23219
 

Loan Programs

The city of Richmond has developed several loan programs to assist businesses with their financing needs. Below is a description of each program.  To learn more, please contact Rick Winston at 804.646.5036 or Rick.Winston@richmondgov.com.  

Citywide Revolving Loan Program

The Citywide Revolving Loan Program provides access to capital for small businesses, entrepreneurs, developers, and non-profits and used to stimulate the revitalization of Richmond's neighborhoods and promote permanent job creation for low to moderate income residents.

The maximum loan amount is up to $250,000 with interest rates up to 9%.

To learn more about the Citywide Loan Program, please click for the brochure and/or application.  

Contractors Assistance Loan Program (CAP)

The purpose of the Contractors Assistance Loan Program (CAP) is to provide access to capital to small contractors that are doing business within the city of Richmond that lack access to traditional financing. The goal is to provide contractors with flexible terms and conditions, which may or may not be available in the conventional marketplace.

The maximum loan amount is up to $100,000 with interest rates up to 9%.

To learn more about the CAP program, please click for the brochure and/or application.  

Economic Development Revolving Loan Program

The purpose of the Economic Development Revolving Loan Program is to provide financing to local developers and small businesses pursuing Section 108-eligible projects, which will improve economic opportunities for low and moderate income persons through job creation. 

The maximum loan amount is  $500,000, however exemptions will be considered in a case by case basis. Interest rates vary based on credit risk and market conditions.

To learn more information about the Economic Development Revolving Loan Program, please click for the brochure and/or application.    

Micro Enterprise Revolving Loan Fund Program 

The Micro Enterprise Revolving Loan Fund Program is designed to provide financial assistance, training and counseling services to eligible micro-enterprises.  A micro-enterprise is a business that has five (5) or fewer employees, one or more of whom owns the enterprise.  

Funds under this program are provided to eligible micro-enterprise businesses in the form of loans with a maximum loan amount of $50,000.  The average loan amount will be between $10,000 - $25,000.  

To learn more about the Micro Enterprise Revolving Loan Fund Program, please click for brochure or application.