The Norfolk Revolving Loan Fund is back with two signature products. Business owners can apply for the new streamlined Microloan up to $25,000 OR the traditional Revolving Loan up to $50,000. These products offer deferred payback terms and interest rates as low as 0%. This application round is open from March 1, 2022 through March 13, 2022.

Who can apply to the Capital Access Program?

  • For-profit Sole Proprietorships, General Partnerships, Limited Partnerships (LP), Limited Liability Partnerships (LLP), Corporations (Inc., Corp.), Limited Liability Companies (LLC)
  • Franchises
  • Home-based businesses
  • Nonprofits are ineligible

Loan Products:

Micro Loan: $25,000 or Less Streamlined Product

    • Amount: $5,000 – $25,000
    • Years in Business: Must have been in existence for at least 2 years WITH documented sales/revenue
    • Must have no more than 250 employees
    • 0% interest rate and deferred payments up to 6 months
    • How the money can be used: included but not limited to inventory, materials, equipment, general business operating expenses, and working capital

Traditional Norfolk Revolving Loan Fund:

    • Amount: $25,001 – $50,000
    • Years in Business: Preferably 3 or more years of business operation WITH documented sales/revenue
    • Must have no more than 250 employees
    • Flexible payment terms are available
    • How the money can be used: included but not limited to inventory, materials, equipment, working capital, debt refinancing, real estate, etc.

More details can be found here.