City of Virginia Beach Development Authority Launches Small Business Grant Program

The City of Virginia Beach Development Authority (VBDA) has announced the launch of the Virginia Beach Small Business Grant Program, aimed at providing financial support to eligible small businesses in the city. Grants of up to $10,000 will be awarded to qualifying businesses, including those that are small, women-owned, minority-owned, veteran-owned, or disabled veteran-owned.

Administered by the Virginia Beach Department of Economic Development, the grant program is designed to help small businesses with various growth-related activities. Funds can be used for purposes such as purchasing inventory, marketing, developing an online or mobile presence, acquiring equipment or supplies, expanding the business, or real estate acquisition. Grants will be distributed on a first-come, first-served basis, depending on the availability of funds, adherence to program guidelines, and submission of a complete application.

“Virginia Beach Development Authority recognizes the need to increase access of funding for qualified small businesses,” said Deputy City Manager Amanda Jarratt. “We continue our commitment to serving historically underserved and marginalized small businesses by creating an inclusive economy in Virginia Beach.”

In addition to financial assistance, the program will provide recipients with access to technical expertise and mentorship in key areas, such as legal services, financial analysis, and digital marketing.

To apply, businesses must attend a pre-application workshop hosted by the Virginia Beach HIVE Business Resource Center. The workshops will be offered both in-person and virtually. Pre-registration is required, and only those who attend a workshop will receive the link to the 2024 Small Business Grant application, which will be available starting September 30, 2024.

This article, "City of Virginia Beach Development Authority Launches Small Business Grant Program" was first published on Small Business Trends