Learn More about CDFI's and Small Business Resources in Virginia see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
123 New Market Investors, LLC
Business Seed Capital, Inc.
ECDC Enterprise Development Group
Hampton Roads Ventures, LLC
Lynchburg Community Loan Fund
Minerva Seed Fund
NCB Capital Impact
New Enterprises Fund, Inc.
Piedmont Housing Alliance
Southside Development Enterprises, LLC
The government has launched innumerable programs that are all geared towards the achievement of this goal. Some of these programs involve the provision of technical assistance, training sessions, and strategies that would potentially help business owners in marketing their products and in expanding their businesses.
The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.