NORFOLK, Va. (WAVY) — Norfolk is looking to help local businesses as the effects of the coronavirus loom.
The Norfolk Business Loan through the Norfolk Department of Economic Development helps offset foreign supply chain disruptions.
The loan will first be available March 23.
The Department of Economic Development currently provides several “products” to help local businesses with financial support.
Businesses that export goods domestically or internationally and have seen a “significant decline” in revenue or working capital are encouraged to apply for the new Norfolk Business Loan.
“The City of Norfolk values its businesses and realizes the importance of possible COVID-19 impacts on our area,” said Mayor Kenneth C. Alexander “We are a center of global trade and commerce and are being vigilant in our efforts.”
The loan amounts will range from $10,000 to $35,000 and is funded by the Federal Economic Development Administration.
For more information, please contact the Norfolk Department of Economic Development at 757-664-4338.
- Woman accused of licking $1,800 worth of items at California grocery store arrested on felony charge
- When will I get my stimulus check? Payments expected to start next week
- Lady Monarchs coach Nikki McCray set to become head coach at Mississippi State
- Virginia DMV converts weigh stations into rest areas for commercial truck drivers
- Two injured in Norfolk crash on E. Princess Anne Road & Tidewater Drive