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

    The purpose of this program is to assist small, women and minority-owned, for-profit Newport News companies in growing their business through e-commerce.

  2. Façade Improvement Grant Program

    The objective of the Façade Improvement Grant (FIG) program is to restore, sustain, and improve commercial properties located within the City of Newport News.

  3. Newport News Capital Fund Loan Program

    The Newport News Capital Fund will lend up to $250,000 to finance new fixed asset investment located in Newport News.

  4. Newport News Micro Loan Program

    The Newport News Micro Loan Program is designed to assist small companies and start-ups in obtaining financing that might not otherwise be available.

  5. Newport News Urban Action Grant Loan Program

    The Newport News Urban Development Action Grant Loan Program will lend up to $250,000 to finance new fixed asset investment located in Newport News.

  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.