What is the CAP Program?

Welcome to the Capital Access Program (CAP)

 

The city of Norfolk established the Capital Access Program (CAP) with the goal of filling a financing gap in the marketplace for entrepreneurs to either start or expand their business. CAP provides alternative and affordable financing made available through the City of Norfolk for new, existing, and expanding businesses.  These funds are reserved for businesses that lack access to traditional financing sources and/or require “gap financing.”

 

2023 Q1 CAP Grant Program (The Q1 application closed March 19th. Please visit this page for future grant funding rounds.) 

  • The grant application portal opens March 6th to March 19th
  • Complete the following steps to prepare to apply:
    1. Watch the CAP Workshop video (shown above) and download the CAP Workshop Completion Certificate
    2. Review the Required Documents Checklist and begin collecting electronic copies of the documents
    3. Check this website often for the application link.

2023 CAP Products

Micro Grant

  • Grant Amount: $7,500
  • Years in Business: Up to three (3) years from business formation date
  • Stage of Business: No less than one year of documented revenues
  • Business owner must be low-to-moderate income (LMI) at time of submission
  • Employee Count: Must have no more than 5 employees (including business owners)
  • Allowable Purchases include but are not limited to: operating licenses, permitting and fees, inventory, materials, equipment, marketing and advertising
  • Ineligible Purchases: Real estate-based transactions to include interior and exterior build out or renovations. Payroll and/or salaries, rent and utilities

Reimbursable Grant

  • Grant Amount: $35,000
  • Years in Business: Three (3) through (10) years from business formation date
  • Stage of Business: Minimum of 2 (two) years of documented revenues
  • Business must hire 1 full-time LMI Norfolk resident
  • Employee Count: Must have no more than 50 employees
  • Business must have documented hiring experience
  • Allowable Purchases include but are not limited to: operating licenses, permitting and fees, inventory, materials, equipment, marketing and advertising
  • Ineligible Purchases: Real estate-based transactions to include interior and exterior build out or renovations. Payroll and/or salaries, rent and utilities

General Program Information

For Questions or General Inquiries