Monthly Q&A

Micro Loans, Grants for Downtown Businesses

As we all know, this has been a challenging year for many businesses due to the economic slowdown. Some businesses are finding they need to make changes in order to survive and thrive, and others have learned that startup or operating financing is difficult to find. To help with this, Harrisonburg Downtown Renaissance is offering a micro loan and a facade enhancement grant program to downtown businesses:

Starting in July, HDR is partnering with Enterprise Development Group of Arlington to accept micro loan applications for up to $35,000 for new or existing businesses. Businesses must have five or fewer employees, have a written business plan, and be located in the downtown district as defined by Virginia Main Street.

Additionally, our Economic Development Committee is again offering facade enhancement grants to assist businesses within the downtown boundaries to make improvements to their signs and/or building facades. In the past, these grants have helped pay for new outdoor lighting, exterior building paint, new signs, and more. HDR is looking for projects that can make a positive visual impact to downtown. Eligble applicants must be located within the downtown district and be members of Harrisonburg Downtown Renaissance (membership information is in the “Get Involved Downtown” box in the right column of this page). Awards will be based on appropriateness, creativity, timeliness, and visual impact of the proposal.

Contact HDR at 432.8922 for additional information or to recieve a loan or grant application.

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