The City of Richmond’s Revolving Loan Fund (RLF) is a community based program with the goal of fostering local economic growth through the creation and retention of employment opportunities for Richmond residents and complementing community and individual development initiatives.
The City of Richmond encourages the development of new businesses and the expansion of existing businesses. Existing businesses within the City of Richmond or businesses planning to locate within the City of Richmond are encouraged to apply.
Who should apply?
Your business may be eligible for RLF loans if it:
Business is located in the City of Richmond
Business has been in operation for a minimum of one year
Plans to locate to the City of Richmond
Will provide services or hire residents within the City of Richmond
Types of Loans
The RLF provides four loan options to business owners:
Working capital—for the costs of business operations
Machinery/equipment—for the acquisition of machinery and equipment
Fixed assets—for leasehold improvements, renovation, expansion of a structure, or purchase of fixed assets
Facade improvements—for improving the exterior appearance of a business
Loan amounts range from a minimum of $5,000 to a maximum of $100,000. Loan applications are reviewed by the RLF Board.