Economic Development

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.

Application Instructions
Loan Application
Personal Financial Statement

Submit Application by email to: emusselwhite@craterpdc.org