Low-Interest Business Loans & Grants

The Department of Development, in conjunction with other agencies, offers a number of low-interest loan and other financing programs designed to attract new businesses and encourage the expansion of existing businesses. Download a summary brochure (PDF) of all of our programs online.

If you have any questions, please contact Tricia Wilson via email, by phone at 757-926-8428, or by filling out this information request form.

Grant Programs

  1. E-Commerce Grant Program

    Are you a small, women and minority-owned private business that generates money through e-commerce? If so, you may be eligible for a grant.

  2. Façade Improvement Grant Program

    if you a commercial, industrial, office or mixed-used property that needs improvement, you may quality for this grant.

  3. Newport News Capital Fund Loan Program

    Learn how your business could qualify for a loan of up to $250,000 for applicable new fixed asset investment in the City.

  4. Newport News Micro Loan Program

    Learn how your small business or start-up could qualify for a loan of up to $25,000.

  5. Newport News Urban Action Grant Loan Program

    Learn how your business could qualify for a loan of up to $250,000 for creating jobs to low and moderate income families.

  6. Peninsula Revolving Loan Fund Program

    The Peninsula Revolving Loan Fund will lend up to $150,000 to finance new fixed asset investment for companies in economic base industries located in Newport New that otherwise would be unable to obtain financing.

  7. Tax Exempt & Taxable Industrial Revenue Bonds

    Tax Exempt and Taxable Industrial Revenue Bonds (IRB) are issued by the Newport News Economic Development Authority or the Newport News Industrial Development Authority, subject to the approval of bond counsel and, for tax-exempt IRBs, the availability of a state allocation.

  8. Consumables Transitioning Grant (CTG) Program

    This program is designed to assist businesses and organizations which have been impacted by the renaming of Middle Ground Boulevard with updating business consumables, marketing materials, web-based material and directional and business location-related identifiers to reflect their new City Center Boulevard address.