Showing posts from August 8, 2010

Contractor Assistance Loan Program Invites Pre-Applications

~ Program to support working capital needs of under-utilized local businesses, especially minority, women and disadvantaged business enterprises ~ The city of Richmond's Office of Minority Business Development (OMBD), and Department of Economic and Community Development (ECD) are inviting local businesses to submit pre-applications for financing under the newly created Contractor Assistance Loan Program. The loan program represents one of several measures being implemented by the administration of Mayor Dwight C. Jones to address the ongoing challenges confronting under-utilized small businesses and entrepreneurs. Access to capital is a persistent problem for many enterprises, and the Contractor Assistance Loan Program is designed to help those entities that would otherwise lack the financing necessary to pursue contract opportunities in the public or private sectors. Earlier this year, Mayor Jones established a new department of Economic and Community Development (ECD) to