Norfolk launched its Capital Access Program. Here’s what that is

NORFOLK — The city’s Economic Development Department launched the Capital Access Program, which offers alternative financing options specifically geared to assist the city’s businesses in any phase of their growth cycle.

There are five Capital Access products available to businesses:

  • Micro grants
  • Norfolk EDA Small Business grants
  • Reimbursable grants
  • Facade grant
  • Norfolk Revolving Loan funding

Find descriptions of each grant type here.

In order to be eligible for program funding, the applicant must have a city business license, officials said.

The grants are designed for for-profit entities such as sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, corporations and limited liability companies.

Franchises, not-for-profits and faith-based organizations, political organizations, adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, blood or plasma donor center, massage parlors, pawn shops and tanning salons are not eligible, officials said.

For a full list of requirements click here.

For more information about how to apply and more tools for businesses, click here.

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