VAHCC Small Business Loan Program

Programa de préstamos para pequeños negocios

Small businesses that are members of the chamber are invited to apply for 0% loans and business coaching to support business expansion and job creation.


About the program

The Virginia Hispanic Chamber of Commerce has partnered with LISC Virginia to launch the VAHCC Small Business Loan Program. This program invests in the strength and potential of Central Virginia's business community.

Through our partnership, we will provide small businesses 0% interest loans to help grow, hire new staff, purchase equipment, and more. As businesses repay their loans, LISC Virginia and the Virginia Hispanic Chamber will recycle the dollars back into our region's business community. The Virginia Hispanic Chamber will assist loan recipients with free coaching to help them be more successful and sustainable in the long-term.


(Please read Eligibility Requirements before signing up)

Sign Up To Be Notified For The Next Loan Term

Eligibility Requirements

  • Hispanic Chamber Member: Businesses must be a member of the Virginia Hispanic Chamber of Commerce
  • Longevity: at least 2 full years of operating history
  • Business type: organizations filed as corporations or LLCs
  • Geography: Businesses located in the City of Richmond, Henrico County, or Chesterfield County
  • Revenue: At least $100,000 annually preferred
  • Credit: 600+ preferred

Usages

  • Hiring new staff
  • Purchasing equipment and inventory
  • Refinancing high-interest loans and debt
  • Certifications and trainings
  • Bridge financing for contracts
  • Other business expenses related to growth in operations


Loan Terms

  • Loan amount: $25,000 - $50,000
  • Interest: 0% interest
  • Deferment period: Up to 6 months
  • Term: Up to 3 years
  • Amortization schedule: 3-5 years
  • Collateral: No collateral required (unsecured RGs)
  • Repayment: Fully-amortizing or partially-amortizing with a balloon, depending on the credit strength of the borrower

Required Documentation

  • Articles of incorporation
  • Corporate by-laws, partnership agreement or LLC agreement
  • Personal background check (CLEAR)
  • Business plan
  • Financial statements

About LISC

For more than 30 years, LISC Virginia has worked with residents and community organizations to revitalize under-served neighborhoods across Central Virginia by investing in the interconnected areas of housing, health, education, public safety, and employment.

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