Phillip Morris subsidized small business loan program for Jeff Davis Corridor

 Link to program's website

After closing many of its facilities in the neighborhood, Altria (Phillip Morris) is making efforts to help replace the jobs that were lost. To do so, it has funded an incentive program for small businesses looking to re-locate or expand specifically in the Jefferson Davis Corridor area.

Small businesses at the Clopton SiteWorks facility qualify for subsidized loans, technical assistance, and other grants. The program is being administered by Virginia Community Capital (VCC).

From their website (link above)

For eligible businesses, components of the program include a combination of interest rate buy downs, credit enhancements, technical assistance, as well as a set of Enterprise Zone incentives from the City of Richmond. The goal is to help fill commercial vacancies with new and existing businesses and to build upon opportunities for acquisition and redevelopment already underway in this area.

 

To learn more, either contact VCC directly using the info on their website, or email us at info@cloptonsiteworks.com