Business Resources

Revolving Loan Fund Program

The City of Richmond’s Revolving Loan Fund (RLF) is a community based program with the goal of fostering local economic growth through the creation and retention of employment opportunities for Richmond residents and complementing community and individual development initiatives.

The City of Richmond encourages the development of new businesses and the expansion of existing businesses. Existing businesses within the City of Richmond or businesses planning to locate within the City of Richmond are encouraged to apply.

Who should apply?

Your business may be eligible for RLF loans if it:

  • Business is located in the City of Richmond
  • Business has been in operation for a minimum of one year
  • Plans to locate to the City of Richmond
  • Will provide services or hire residents within the City of Richmond
Types of Loans

The RLF provides four loan options to business owners:

  • Working capital—for the costs of business operations
  • Machinery/equipment—for the acquisition of machinery and equipment
  • Fixed assets—for leasehold improvements, renovation, expansion of a structure, or purchase of fixed assets
  • Facade improvements—for improving the exterior appearance of a business
Loan amounts range from a minimum of $5,000 to a maximum of $50,000. Loan applications are reviewed by the RLF Board.

Download an application here (133KB)

Revolving Loan Fund
Revolving Loan Fund Map

 

All types of businesses have been helped by the RLF. RLF loans have been awarded to:

A Solid Foundation
Archie Held Studio
Alterations & Tailoring By Grace
Casa Chicas Food Manufacturing
Dhillon Chevron Gas Station
Felts Family Childcare
Jan-Pro Janitorial
Kenbella’s Restaurant
Name the Occasion Gift Baskets
Neighborhood House of North Richmond
R.E.N. Metal Salvage and Recycling
Taqueria Los Cerros
The Perinatal Council
VanHook Electric, Inc.
Silver Walker Studios
White Richardson, LLP
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