Advertisement

Header Utility Menu

  • Subscribe
  • Renew
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • Women in Leadership
    • Legal Elite
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2023 Black Business Leaders
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
    • Order Women In Leadership Plaques
  • Virginia 500
    • Read The Issue
    • Buy an award plaque
    • Suggest execs for 2024

Advertisement

Header Primary Menu

  • Issues
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • Women in Leadership
    • Legal Elite
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2023 Black Business Leaders
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
    • Order Women In Leadership Plaques
  • Virginia 500
    • Read The Issue
    • Buy an award plaque
    • Suggest execs for 2024

Home News Freedom Bank, NVTC to seed $50K revolving loan fund for minority entrepreneurs

Freedom Bank, NVTC to seed $50K revolving loan fund for minority entrepreneurs

Bank, tech council to provide gap financing for NoVa businesses

Published January 26, 2021 by Sydney Lake

The Northern Virginia Technology Council (NVTC) and Fairfax-based Freedom Bank of Virginia announced Tuesday a $50,000 revolving loan fund for Northern Virginia entrepreneurs of color who have been affected by the pandemic. 

NVTC and Freedom Bank of Virginia will seed the NOVA Technology Loan Fund, a gap financing program to be administered by the Springfield-based nonprofit Community Business Partnership Inc. (CBP).

“Freedom Bank dedicated itself in 2020 to helping clients and small businesses survive the COVID-19 pandemic and to a reinvigorated commitment to diversity and inclusion initiatives,” Freedom Bank President and CEO Joe Thomas said in a statement. “Therefore, this partnership is an ideal fit and a platform where Freedom and its program partners can make a real difference.”

Neither NVTC nor Freedom Bank of Virginia have yet released details about applications, applicant requirements or how to obtain the funding. The organizations are seeking additional funding partners, according to a statement from Freedom Bank. Typically, revolving loan funds are offered to those who do not qualify for traditional financial services.

Founded in 1995, CBP provides access to capital, incubator services, counseling and business technical training.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

Virginia Business logo

PPP loans could make comeback in time for holidays

Bankers, CPAs stand by for potential $300B PPP round

Virginia Business logo

Chesapeake Economic Development offers extra $1M for small businesses

Businesses can apply for up to $10K for reimbursement

Virginia Business logo

PPP loans deadline extended to May 31

Move takes pressure off banks, businesses and backlogged SBA

Trending

Raleigh-to-Richmond rail project receives $1B federal grant

Timmons tops off $50M HQ in Chesterfield County

Sentara takes sole ownership of Velocity Urgent Care

A British invasion at Norfolk’s Chrysler Museum

Harvey Lindsay acquires condo management portfolio

Sponsored Stories

Precision Walls, Inc. Acquires SPS Corporation to Expand Service Offerings

Friendly and frictionless: 6 customer experience trends

Part 2: 2024; logistics nightmare or a re-awakening?

Advertisement

Advertisement

Trending

Raleigh-to-Richmond rail project receives $1B federal grant

Timmons tops off $50M HQ in Chesterfield County

Sentara takes sole ownership of Velocity Urgent Care

A British invasion at Norfolk’s Chrysler Museum

Harvey Lindsay acquires condo management portfolio

Sponsored Stories

Precision Walls, Inc. Acquires SPS Corporation to Expand Service Offerings

Friendly and frictionless: 6 customer experience trends

Part 2: 2024; logistics nightmare or a re-awakening?

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Renew
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk