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Welcome to the Capital Access Program!

 

Application Portal is closed.

 
*Please note: ALL Applicants are now required to attend at least one mandatory workshop in order to apply. Please see the workshop schedule with dates for available workshops.
The City of Norfolk established the Capital Access Program (CAP) with the goal of filling a financial 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 resources and/or require “gap financing.”

Eligibility Requirements for the Micro Enterprise Grant

  • Do I fall under low-to-moderate income (LMI) – What does that mean?
  • Is my business located in the City of Norfolk?
  • Am I up to date on all City taxes?
  • Has it been less than three years from my business’s formation date?
  • Do I have two years of documented revenues?
  • Do I have less than 5 employees?
  • Have I participated in a technical assistance program or received a consultation (business accelerator program, business incubation program, technical workshop, training session, etc.)

Eligibility Requirements for the Microgrant

  • Do I fall under low-to-moderate income (LMI) – What does that mean?
  • Is my business located in the City of Norfolk?
  • Am I up to date on all City taxes?
  • Has it been less than three years from my business’s formation date?
  • Do I have at least one year of documented revenues?
  • Do I have less than 5 employees?

Eligibility Requirements for the Reimbursable Grant

  • Is my business located in the City of Norfolk?
  • Am I up to date on all City taxes?
  • Have I been in business for a minimum of 3 and a maximum of 10 years?
  • Do I have at least 3 years of documented revenues?
  • Do I have less than 50 employees?
  • Is my business located in the City of Norfolk?
  • Am I up to date on all City taxes?
  • DISCLAIMER: Reimbursable Grant recipients are required to hire one-(1) full-time LMI Norfolk resident (No existing employees, no interns, and no part-time staff can be used to meet this requirement).

If you answered “No” to any of these questions, please check out our resource partners at the bottom of the page for more information about assistance for your business!

Important Reminders:

  • Items purchased before or after the contract agreement is executed are ineligible grant expenditures. The City will not reimburse the business for these expenses.
  • Entities that are ineligible to apply for the CAP grant program include: Not-for-profit, faith-based organizations, political organizations, adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, blood or plasma donor centers, and pawn shops.
  • Business owners who are employees of the City of Norfolk, elected or appointed officials or officers of the City of Norfolk, employees or board members of the City of Norfolk Economic Development Authority are not eligible to apply to the Program.

Microgrant

  • 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:
    • – Supplies
      – Equipment
      – Inventory
      – Furniture
      – Training
      – Professional Services
  • Ineligible Purchases:
    • – Payroll/Salaries
      – Rent
      – Insurance
      – Real Estate
      – Interior and Exterior Buildouts or Renovations
      – Operating Licenses
      – Permitting and Fees
      – Utilities
      – Vehicle Purchases/Leasing

Micro Enterprise Grant

  • Grant amount: $10,000
  • Years in Business: Up to five (5) years from business formation date
  • Stage of Business: No less than 2 years 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:
    • – Supplies
      – Equipment
      – Inventory
      – Furniture
      – Training
      – Professional Services 
  • Ineligible Purchases:
    • – Payroll/Salaries
      – Rent
      – Insurance
      – Real Estate
      – Interior and Exterior Buildouts or Renovations
      – Operating Licenses
      – Permitting and Fees
      – Utilities
      – Vehicle Purchases/Leasing

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:
    • – Supplies
      – Equipment
      – Inventory
      – Furniture
      – Training
      – Professional Services
  • Ineligible Purchases:
    • – Payroll/Salaries
      – Rent
      – Insurance
      – Real Estate
      – Interior and Exterior Buildouts or Renovations
      – Operating Licenses
      – Permitting and Fees
      – Utilities
      – Vehicle Purchases/Leasing
Our Department is hosting 8 upcoming workshops around the City of Norfolk. Please note: EVERY applicant is required to attend at least one workshop. You will not be eligible to apply without a completion certificate received at the end of the workshop. See below for dates:
  • July 9 at 10 am, Richard Tucker Memorial Library – 2350 Berkley Ave
  • July 9 at 6 pm, Jordan Newby Anchor Branch Library – 1425 Norchester Ave
  • July 10 at 6pm, Virtual Session – capvirtual24.eventbrite.com
  • July 11 at 10 am, Mary D. Pretlow Library – 111 W Ocean View Ave
  • July 11 at 6 pm, Norview Community Center – 6380 Sewells Point Rd
  • July 16 at 10 am, Virtual Session – capitalaccessvirtual2.eventbrite.com
  • July 17 at 10 am, Virginia Career Works Center – 861 Glenrock Rd #100
  • July 17 at 6 pm, Lambert’s Point Community Center – 1251 W 42nd St
  • The Application Portal is scheduled to open on July 18th  at 8:00am and close on August 8th at 12:00pm.

Q: Who is eligible for the Capital Access Program?

A: For-profit small businesses located in the City of Norfolk. Business owners must have a current-year City of Norfolk Business License and be up-to-date on all taxes, permits, and fees. Eligible legal structures are:

  • Sole Proprietorships, General Partnerships, Limited Partnerships (LP),
  • Limited Liability Partnerships (LLP), Corporations (Inc., Corp.),
  • Limited Liability Companies (LLC)

Q: Who is ineligible for the Capital Access Program?

A: Any business that has received a Microgrant within the last 3 years, any business that has received a Reimbursable grant within the last 3 years, if you have an active loan/grant, and/or if you have been awarded funding from the Façade Improvement Grant.

Non-profits, Not-for-profit and faith-based organizations, political organizations, adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, blood or plasma donor centers, and pawn shops. Business owners who are employees of the City of Norfolk, elected or appointed officials or officers of the City of Norfolk, employees or board members of the City of Norfolk Economic Development Authority are not eligible to apply to the Program.

Q: What are eligible CAP grant purchases?

A:

  • Supplies
  • Equipment
  • Inventory
  • Furniture
  • Training
  • Professional Services

Q: What are ineligible CAP grant purchases?

A:

  • Payroll/Salaries
  • Rent
  • Insurance
  • Real Estate
  • Interior and Exterior Buildouts or Renovations
  • Operating Licenses
  • Permitting and Fees
  • Utilities
  • Vehicle Purchases/Leases

Q: If I received a CORE grant through the City of Norfolk can I apply for a CAP grant?

A: Yes, CORE grant awardees are eligible to apply for CAP.

Q: How will I know if my application was fully submitted?

A: Once you submit your online application via Survey Monkey, you will receive an automated email confirming receipt.

Q: How long do I have to spend the grant funds if I am awarded?

A: Once the Grant Agreement is fully executed by both the City of Norfolk and the business owner, the grant awardee will have 6 months to utilize funds. Funds must be spent during the term of the agreement, items/expenditures spent before or after the term of the agreement will not be eligible for reimbursement.

Q: How are applications scored?

A: Applications are scored based on the criteria listed below:

  • Vision and Plan
  • Experience and Capacity
  • Community Impact
  • Innovative and Scalability
  • Financial Status and Leverage

* Incomplete applications will not be scored

Q: Can I apply for more than one grant or loan product at a time?

A: No. Business owners may only apply for one product per application round. If multiple applications are submitted, CAP administration will review the application that best fits your business needs.

Q: How do grant winners receive payment?

A: Grant proceeds will be released upon receipt of an invoice and supporting proof of payment, including check copies, bank statements, or credit card statements.

Q: Where can I apply?

A: Here’s the link to apply – https://developmentprograms.smapply.co/.

Q. When does the application portal open?

A: July 18th at 8am – August 8th 12:00pm

Please remember that applications are only received during the dates listed above.

Q. Do I have to attend a Mandatory Workshop?

A: Yes, please choose one of the following dates to attend:

  • July 9 at 10 am, Richard Tucker Memorial Library – 2350 Berkley Ave
  • July 9 at 6 pm, Jordan Newby Anchor Branch Library – 1425 Norchester Ave
  • July 10 at 6pm, Virtual Session – https://capvirtual24.eventbrite.com
  • July 11 at 10 am, Mary D. Pretlow Library – 111 W Ocean View Ave
  • July 11 at 6 pm, Norview Community Center – 6380 Sewells Point Rd
  • July 16 at 10 am, Virtual Session – https://capitalaccessvirtual2.eventbrite.com
  • July 17 at 10 am, Virginia Career Works Center – 861 Glenrock Rd #100
  • July 17 at 6 pm, Lambert’s Point Community Center – 1251 W 42nd St

Application Portal is closed.

 Please review the general information below for applicant requirements and workshops. 

 

General Program Information

For Questions or General Inquiries