The Community Investment Collaborative, which provides education programming, mentoring, peer support and startup financing to Charlottesville-area entrepreneurs, has secured a $300,000 private investment to double the size of its business recovery fund, officials said Wednesday.
The investment effectively doubles the funding available. The fund was created with $300,000 in support from the City of Charlottesville and Albemarle County.
Applications for the new funds will be taken beginning Friday and will end 5 p.m. on May 29, officials said.
Online applications are available cicville.org/business-recovery-fund.
The fund provides existing businesses with additional capital to restart operations. Loans of up to $10,000 with a three-year repayment, low-interest, and six-month grace period until the first payment is due are available.
For more information, please email firstname.lastname@example.org or call (434) 218-3481.