Crater PDC Business Continuity Loan Program
The goal of the Business Continuity Loan Program is to assist existing small businesses to recover from the economic impacts of COVID-19. It is to provide working capital for small businesses to retain employees and to support their economic resiliency.
The Business Continuity Loan is for working capital projects. Loans range from $10,000 to $50,000.
Location:Eligible areas include the Cities of Colonial Heights, Emporia, Hopewell and Petersburg, and the Counties of Charles City, Dinwiddie, Greensville, Prince George, Surry and Sussex.
Applicants: For-profit small businesses.
Uses: Working capital activities.
Term: Up to 1-year.
Rate: Fixed at prime interest rate.
Collateral: Liens on tangible personal property of applicant and personal guarantees of principals.
Application fee: Waived.
Closing costs: Applicant responsible for closing costs. Can be added to loan amount.
Submit Application by email to: email@example.com