We believe in equitable access to capital and resources.
The Economic Equity Fund is a $10 million loan fund that provides low-cost financing for small business owners who are women and/or Black, Indigenous, or People of Color (BIPOC) and were disproportionately affected by the economic impact of the pandemic. In addition to low-interest loans for eligible borrowers, resources have been allocated to provide free technical assistance and consulting for eligible small businesses and community-based partners.
This year, VCC secured additional grant funding to further support this program, and we are excited to extend its benefits to eligible borrowers throughout the Commonwealth.
Eligible uses include:
- Business acquisition
- Debt refinancing
- Equipment financing
- Owner-occupied real estate
- Working capital lines of credit
Eligible businesses will be:
- BIPOC- and/or women-owned
- Located in Virginia
- In operation for 18 months or longer
Eligible businesses are subject to and must be approved through VCC’s underwriting process.