The Economic Development Authority of Newport News, Virginia recognizes that the establishment and development of micro-businesses are essential to a diverse and successful economy. The Micro-Enterprise Grant Program has been established as a pilot program for the City’s Southeast Community to assist in the creation and growth of viable micro-businesses in the City of Newport News. The objective is to support individuals in the creation, expansion, or maintenance of their micro-enterprise business.
For the purpose of this grant, Micro Enterprise is defined as a business entity with five (5) or fewer employees or persons that plan to create such an entity. Employees include the owner, part-time, and full-time employees. Not-for-profit businesses, organizations, and entities are not eligible for this program.
This grant is a one-time, monetary award given to a micro-business and shall not exceed $3,500. The minimum grant award is $500. The grants will be committed and funded on a first-come, first-served basis based upon availability of funds, compliance with program guidelines, and submission of a complete application and supporting documentation.
Eligibility
A business owner/business may qualify for consideration provided it meets all of the following:
- Must be a for-profit Micro Enterprise Business.
- The business or business owner must be located or locating within the defined geographic area.
- The business owners must be low to moderate income or the business must be located in a low to moderate-income area at the time of application. If the business is not located in a low to moderate-income area, you must complete the Income Verification Form for each business owner.
- The business must have a City of Newport News Business License.
- The business and business owner(s) must be current on all local taxes or fees
- The business owner must submit an acceptable business plan
- The business owner must complete pre-approved counseling sessions or workshops.
Supplemental Funds
Eighteen (18) months following the award of the Micro Enterprise Grant and if the recipient has successfully fulfilled the requirements of the grant, businesses may apply for supplemental funds under the Micro Enterprise Grant Program. Funds will be available in an amount not to exceed $1,500. For more information, see the attached Micro Enterprise Grant Program Guidelines Addendum: Supplemental Funds.
Detailed Program Information
Micro Enterprise Grant Program Guidelines (PDF)
Micro Enterprise Grant Program Guidelines Addendum – Supplemental Funds (PDF)
Micro Enterprise Grant Application (link)
How to Determine if a Business is Located in a Low to Moderate Income (LMI) Area (PDF)
How to Determine if I am a Low to Moderate Income (LMI) Individual (PDF)
If you have any questions regarding the guidelines, application process or need assistance completing the application, contact Priscilla Green with the Department of Development at (757) 509-2587
