Virginia Hispanic Chamber Small Business Capital Access Program
The Virginia Hispanic Chamber of Commerce and LISC Virginia are partnering to launch the Virginia Hispanic Chamber Small Business Capital Access Program. This program invests in the strength and potential of Central Virginia's Hispanic business community and those businesses serving the Hispanic community.
Through our partnership, we will provide small businesses 0% interest financing to help grow, hire new staff, purchase equipment, and more. As businesses repay their financing, LISC Virginia and the Hispanic Chamber will recycle the dollars back into our region's business community. The Hispanic Chamber will help businesses with their financing materials and provide free coaching to approved business borrowers to help them be more successful and sustainable in the long-term.
The financing request form is now available. The deadline for requesting financing is rolling and will remain available until all funds are spent.
Financing Terms:
- Financing amount: $15,000 - $75,000
- Interest: 0% interest
- Deferred payments: No payments first 6 months
- Financing term: 3-7 years
- Amortization: 3-7 years
- Collateral: no collateral required
Financing Usages:
- Hiring new staff
- Equipment, supplies, and inventory
- Marketing and consultants
- Website development and improvements
- Refinancing high-interest loans and debt
- Leasehold improvements and renovations
- Certifications and trainings
- Bridge financing for contracts
* Special consideration will be made for funding requests that help businesses create new jobs
Virginia Hispanic Chamber of Commerce
Our partnership with the Virginia Hispanic Chamber of Commerce aims to create a sustainable lending program that can support our region's growing Hispanic residents, business leaders, and individuals serving the Hispanic community. The Hispanic Chamber will be available to assist interested businesses learn more about the program, understand the required financing documents, and provide coaching services to successful borrowers.
Virginia Hispanic Chamber
Virginia Hispanic Chamber
Business Eligibility:
- Hispanic Chamber Member: businesses must be a member of the Virginia Hispanic Chamber of Commerce
- Geography: Businesses located in the City of Richmond, Henrico County, or Chesterfield County
- Longevity: at least 2 full years of operating history
- Profitability: gross revenue between $60,000 and $2,000,000 (based on most recent tax return)
- Credit score: No minimum credit score
- Business type: for-profit businesses; nonprofits and sole proprietors are ineligible
Required Documentation:
- Profit + Loss Statements: 2021, 2022, 2023, and interim 2024
- Balance Sheets: 2021, 2022, 2023, and interim 2024
- Business Tax Returns: last 3 years
- Growth Projections: 2025 and 2026
- Current Business Debt Schedule
- Current Business Plan
- Active Local Business License
- VSCC Good Standing Certificate
Program Sponsor
This program is funded by the generous support of Altria Group. We are grateful for their intentional support to strengthen Hispanic businesses and supporting ecosystem across the Richmond region.
Altria Group
Altria Group
