The Commonwealth of Virginia is home to a wide range of funding opportunities for localities, organizations, and individuals. The Virginia Small Business Finance Authority (VSBFA) provides flexible terms to meet a company's temporary cash flow needs. The Small Business Innovation Research Program (SBIR) is a highly competitive program that encourages small businesses to explore their technological potential and provides the incentive to take advantage of their commercialization. The VSBFA can provide direct loans to businesses that do not require the participation of a bank in the transaction.
The federal government does not grant public grants to start and expand a business, but some small business grants are given to business owners in Virginia to start and grow their businesses. These grants do not need to be returned. Programs have been established to help some small businesses with the process, giving them a better chance of competing for those federal dollars. The Virginia Tourism Corporation (VTC) offers several funding programs to help Virginia's travel industry.
The Small Business Technology Transfer Program (STTR) is another major program for small businesses that expands funding opportunities at the federal level for innovation research and development. Donors can contact local governments directly to learn more about opportunities in their region, and resources are available to help people find out more information. A regularly updated list of grants offered by Virginia agencies is available online, making it easier than ever for businesses to access the funds they need. Finding grants and funding opportunities can be a daunting task, but with the right resources and guidance, it doesn't have to be.
By taking advantage of the various programs available in Central Virginia, businesses can unlock the potential of their operations and reach new heights of success.