The Commonwealth of Virginia and non-profits provide funding for small, minority, veteran and women-owned businesses. There may be 0% interest loans or grants for Black owned companies, LGBTQ, Latino, immigrants, Asians, women businesses as well as other groups. The government works with banks, charities, credit unions, as well as community lenders in order to issue funds near you, including in Richmond, Fairfax, and Northern Virginia. Find a list MWBE loan and/or free grant programs in VA near you below
Note each and every agency and program will have their own application process in place. The loans or free grants in Virginia may help you start a business or grow an existing one or they help entrepreneurs get off the ground. They may be interest free loans or have affordable repayment terms. The list of Virginia grants and loans listed below, some of which may be near you, will be updated. There are funds allocated to MWBE, veteran as well as BIPOC (Black, Indigenous, People of Color) owned businesses in Virginia. These will focus on funding women and minority owned businesses.
Small business loans and free grants for Virginia
Find a current, ongoing list of loans, free grants, and small business funding in Virginia near you. The most recent announcement will be at the top of the list, with older announcements and news releases towards the bottom.
November 2024
Portsmouth VA Black owned businesses and startups can get publicity and information on microgrants. The Good Company Tour, City of Portsmouth Economic Development, and the Black Diamond Weekend event in Portsmouth is for Black owned businesses. There is marketing help, events to showcase products, information on raising money and more. Learn about the event here. https://www.blackdiamondweekend.com/
September and October 2024
Virginia Beach Development Authority is providing free grant money to small businesses. They focus on disadvantaged businesses / those that lack access to funds such as minorities, veterans, and women. The HIVE Resource center (part of the Authority) is processing applications for the $10,000 grants, and apply here. https://www.yesvirginiabeach.com/key-industries/small-business-resource-center
August 2024
York County Small Business Marketing Grant is worth up to $2500 in matched funds, with the money going to pay for advertising, marketing, and other costs. The money is offered in partnership with the York County Economic Development Authority (EDA), with some funds allocated to disadvantaged MWBE owned businesses in York County. Get details on that grant and others here. https://www.yesyorkcounty.com/3919/Incentive-Programs
Woman owned businesses in the City of Fairfax can apply for a free $5,000 grant. Up to 5 owners will be given funds. The program is called the Women’s Entrepreneur Grant Opportunity. The money will help the woman-owned business grow their physical presence in the city, and get details here. https://gofairfaxcity.com/wp-content/uploads/2024/08/WEGO-Application-Fillable-3.pdf
June 2024 and July 2024
Grant money is offered in Roanoke County. The Economic Development Authority is helping small businesses buy capital equipment. The Business Equipment Acquisition Program (BEAP) grant is for small businesses that have been operating at minimum one year. Learn more on BEAP grants here. https://www.yesroanoke.com/492/Roanoke-County-EDA-BEAP-Grant
Portsmouth Public Schools Minority & Women Business Enterprise is creating a grant program to help MWBE small businesses. There is also a Youth Entrepreneurship Pilot Program that help help train kids for business, business start ups, and more. Try the Small Business Center for more details on the MWBE pilot grant program. https://www.portsmouthatwork.com/small-business-center/
Regarding Her is providing $5,000 grants to food, meal, and/or beverage companies that are women-owned. The funds are issued in the DC area, including northern Virginia. The funds are combined with mentoring, classes and week universities and other support. Find details here. https://www.regardingherfood.org/academy2024
Alexandria VA small businesses, with a focus on women and minorities, can apply for the 2024 Small Business Resiliency Grant. Each qualified applicant will get up to $7,000. While the program is open to any small businesses, the Latino Economic Development Center. is processing applications. A focus will be on MWBE businesses in the city. Apply here https://www.ledcmetro.org/alexandria_sbr
March 2024
Roanoke Women’s Foundation (RWF) is providing free grant money to non-profits in the region. The money is for non-profits that focus on health, arts or culture, women’s issues, education and more. The goal is to also help non-profits that help with women or female issues, including of young women/teens. Learn more here. https://roanokewomensfoundation.org/apply-for-a-grant/
January 2024
Warren County women, including people as young as age 18, can get free grant money from Women’s Resource Center in Front Royal Virginia. The funds can be used for business costs, computers, scholarships, and costs around economic equality. Apply here to the Dare to Dream grants https://frwrc.org/dare-to-dream/
November and December 2023
Norfolk based 757 ScaleUp Alliance has a number of assistance programs for small businesses in the region. Entrepreneurial resources, including for veterans include accelerators, free coaching, grant money and more. Get details here. https://www.eda.gov/funding/programs/build-to-scale/past-grantees/2023-venture-challenge/757-ScaleUp-Alliance
Non-profits in the Arlington VA region can apply for free grant money from the RACE to Rebuilding Trust and Community Program. The United Way and the county are administering it. The non-profits applying (or faith based groups) need to focus on helping address income equality, race relations and other challenges, including in the minority community. Apply here and get details. https://www.arlingtonva.us/Government/Topics/Equity/Equity-Based-NOFA
August 2023
Campbell County Department of Economic Development has some $5,000 grants for small businesses. The assistance is part of a service known as the Start Small Campbell Grant Program. This may be an ongoing programs in which funds are provided in future years as well. The money is for newer, small businesses in the county. Read more here. https://www.campbellvirginia.com/new-business/webforms/start-small-campbell-grants
April and May 2023
ENVISION Grants are for minority-owned businesses in Charlottesville and Albemarle County. The United Way, partnering with the Albemarle County Offices of Economic Development, is for existing small businesses with under 25 employees. Free $10,000 grants will help minority, veteran, and women owned businesses that have been operating for at minimum 2 years. Apply here. https://unitedwaycville.jotform.com/231075683930054
Community Foundation for Loudoun and Northern Fauquier County is partnering with Google to provide grants to nonprofits lead by people of color. The agencies will be able to get up to $3500 dollars, and as noted the money is for non-profits/charities only. The Google Data Center grants are focused on agencies that help develop leaders in Loudoun County. Apply here https://communityfoundationlf.org/
February and March 2023
Nelson County small businesses can apply to a business pitch competition, in which 4 small companies will get free grant money. The assistance programs is run by Lovingston Community Business Launch Program in partnership with the Virginia Department of Housing and Community Development. Winners will get financial help, advice from a bootcamp as well as other support. Learn more here. https://www.nelsoncounty-va.gov/lovingston-community-business-launch/
The Junior League of Charlottesville has grants for non-profits in the city. The organization applying for the funds needs to be involved in giving back to the community, and only non-profits (that meet other criteria) can apply. A major focus is on non-profits that help women or minorities in the community. Learn more here. https://www.jlcville.org/community/community-grants/
January 2023
City of Alexandria has a grant program for BIPOC businesses. Qualified businesses will get up to $7,000 from the government to pay certain qualified expenses, including rent, payroll, marketing. taxes and more. Black and indigenous owned businesses in Alexandria VA can also participate in networking as well as a business accelerator program. Apply here. https://www.alexandriava.gov/business-resources/bipoc-small-business-grant-program
October, November 2022 and December 2022
Grow Waynesboro Main and Wayne (GWMW) is a free grant program combined with business training. the funding, and training, is for people who will be starting business in the city over the next year. The free mandatory workshops and training will be a 2 month long class. Grant money is only given to approved applicants who go through the process. Apply here. https://www.growwaynesboro.com/main-wayne/
Warren County women owned businesses, including those owned by Black or Hispanic women, can get free grant money from the Front Royal Women’s Resource Center. The assistance is part of the non-profit FRWRC. Up to $1,000 can be provided. Everything from certification to small business expansion, or start-up funds, can be used by the grant program. Get details here. https://frwrc.org/
The Downtown Lynchburg Association (DLA) will be providing grants to businesses that are located downtown. The funds are intended to help revitalize the area. Applicants need to have a physical location (or be opening one) and the funds help pay for real estate, repairs, construction and more. MWBE and veterans are also given some priority to the Launch LYH program. Funds will be disbursed over the next several months, and read more here on Launch LYH. https://downtownlynchburg.com/
June and July 2022
Fairfax, Loudon County businesses can apply for the Dulles area Minority Small Business Owner Grant Program is open to minority owned companies. The Chamber of Commerce, using corporate and private donations, is providing free grant money to small Black women owned businesses, Latino, Black male and others owned by people of color – including immigrants. Businesses most be for-profit, submit essays and applications, and meet other criteria. Read more details here. https://www.cognitoforms.com/AmericasCharities/DullesChamberOfCommerceMinoritySmallBusinessOwnerGrantProgram
Charlottesville area, minority owned businesses can apply for free grants that are being offered by the United Way of Greater Charlottesville and Minority Business Alliance. Up to $50,000 is allocated for the financial assistance program. The funds are part of the Minority Business Alliance, and the money can pay for inventory as well as other capital. Read more here. https://www.cvillechamber.com/mba/
February and March 2022
Greensville County small businesses (with under 25 employees) can apply for free government grants. The financial assistance program is part of ARPA, which is a combination of government agencies and non-profits. The amount issued will vary, with some grants allocated to veteran, women, and minority owned businesses (those owned by people of color). Apply here. https://www.greensvillecountyva.gov/news_detail_T2_R70.php
Newport News Virginia microbusinesses can apply for grants from the Economic Development Authority, meaning 5 employees or less. Anywhere from $500 to $3,500 can be provided as part of the Micro Enterprise Grant Program. Applicants need to meet various conditions, including be for-profit, have a business plan and more. They also need to be low or moderate income and/or have poor credit scores. Continue reading. https://www.nnva.gov/2723/Newport-News-Micro-Enterprise-Grant-Prog
Virginia Beach small businesses can apply for interest free loans. Women, minority, veteran, Asian and other disadvantaged businesses can apply for funds.. The zero percent, interest free loan program is part of HIVE, and the funding is offered for a wide variety of bills and small business needs. A major focus is on supporting companies in Virginia Beach, Hampton Roads and the region that lack access to traditional forms of capital. Learn more. https://www.yesvirginiabeach.com/key-industries/small-business-resource-center
January and February 2022
Richmond Virginia businesses can get financial assistance from Virginia Community Capital and Wells Fargo, one of the nation’s largest banks. Qualified minority or female owned businesses in Richmond or Henrico County can get up to $250,000 from the Open for Business program. The goal is to help disadvantaged businesses, and the non-profit Virginia Community Capital is offering support. Apply here. https://vacommunitycapital.org/
Small businesses in Floyd, Giles, Pulaski, and Montgomery County can apply for free $15,000 grants from the New River Valley Small Business Relief Program. The applicant needs to have under 20 employees, and some of the funding will be reserved for women, minority, or veteran owned businesses. The goal of the free grant program is to help businesses that have been impacted by COVID, and the money can help pay rent, salaries, utilities, and cover lost revenue. Apply here. https://docs.google.com/forms/d/e/1FAIpQLScEgE50VKqiEiZE_J3S7HgJZlA_CGsrgENv7JfPByliDiP5-g/viewform
November and December 2021
Orange and Greene County small businesses, including women and minority owned, can apply for low cost (or even interest free loans) from a financial aid program created by the Community Investment Collaborative as well as the Orange and Greene County Economic Development Authorities. There are EDA and Resolving Credit Loans as well as a Business Recovery Fund. All of these can help small to microbusinesses, including those impacted by COVID. Read more https://cicville.org/
October 2021
Bricks and Clicks in Harrisonburg is a $3500 grant program. The grant program, as well as the technical advice, will help physical stores get an online presence. Website development, SEO services, online marketing and other support is arranged along with the free grants. Apply here. https://downtownharrisonburg.org/grants/bricks-clicks/
August 2021
Science, Technology, Engineering, and Math (STEM) businesses or non-profits in northern Virginia that focus on STEM for girls/woman can apply for grants from the Business Women’s Giving Circle. The goal of the free grant program is to help non-profits provide educational and technology skills to young women/girls. Business Women’s Giving Circle of Northern Virginia is providing the financial aid. Read more. https://www.cfnova.org/grants-and-scholarships/grants/giving-circle-grant-cycles/business-women-s-giving-circle
February 2021
Minority owned businesses in the Winchester region (and surrounding towns or cities) can apply for interest free loans from the Banking on Diversity program. Multiple local lenders are partnering on the loan program, including Bank of Charles Town and Bank of Clarke County, The Fauquier Bank and last but not least First Bank. Interest free loans are both for new and existing minority owned businesses in the city of Winchester, Clarke, Fauquier, Frederick, Loudoun, Prince William, Shenandoah, or Warren Virginia. Call one of those banks to apply.
PPP loans (round 2) are being offered from the state using federal government funds. The Paycheck Protection Program (PPP) is giving loans to help businesses impacted by COVID, with priority (and first applications) for female owned, minorities, and veterans. The SBA and local lenders accept applications, and find where to apply here. https://www.sba.gov/offices/district/va/richmond/resources/virginia-sba-lenders
November and December 2020
Women owned businesses in Warren County can get $1000 grants as part of a financial assistance program known as Dare To Dream. Use the money for buying computers, starting a business or inventory for one, website development, as well as other career and income focused needs. To apply, dial the Front Royal Women’s Resource Center at 540-636-7007.
Small businesses located in the Shenandoah Valley area of Virginia can get financial help from the Staunton Creative Community Fund. There is also assistance for people, including minorities or women, that are trying to start a business. There is not only grants or low cost loans, but also education, advice, and other support as part of the Women and Minority-owned Business Support Program. Up to $6,000 will be provided per applicant. The Fund is also paid for with help from AT&T, and there are free grants, financial literacy classes, advice, mentorship and more. For details, email hello@stauntonfund.org
August 2020
We Care Rebuild RVA Project is a partnership of many companies and non-profits in Virginia. Free micro-grants grants of up to $10,000 are being offered from The Community Foundation, Venture Richmond, Virginia Community Capital (VCC), ChamberRVA, Altria, Virginia LISC and Dominion Energy, Capital One, as well as Robins Foundation. Female and minority owned businesses with less than 50 employees can apply. The funds can pay for inventory, rent, insurance, and many other bills. Businesses can also get free legal advice, tips on operations and other counseling. Apply here. https://thembl.org/we-care-rva-rebuild/
The Urban League of Hampton Roads is offering financial assistance to Black owned small businesses. It is for Portsmouth, Virginia Beach, and the area known as Hampton Roads. Dominion Energy is offering funds in partnership with the Urban League, and the program is microgrants. The goal is to help startup companies, sole-proprietorship, and minority, small owned businesses start, grow, or keep their “doors open”. https://www.ulhr.org/
Rebuild VA grant offering up to $10,000. The Rebuild VA fund will allow 7,000 applicants the opportunity to receive up to $10,000. Half of the funds will go towards small businesses and nonprofits in low income and economically disadvantaged communities, including women, Black owned, veterans, and others. This will help meet the needs of underserved businesses. https://www.governor.virginia.gov/rebuildva/
July 2020
Gov. Northam announces $70M in free grants for small businesses, nonprofits impacted by COVID-19. https://www.nbc29.com/2020/07/27/gov-northam-announces-m-grants-small-businesses-nonprofits-impacted-by-covid-/
By Jon McNamara
