Henrico Offers $750K in Zero-Interest Small Business Loans

Small business owners in Henrico County, Virginia just got a powerful new tool to turn their dreams into reality without the burden of interest payments.

The county's SCALE UP Henrico program now offers $750,000 in zero-interest loans to help local entrepreneurs expand their businesses and hire more workers. That's triple the original $250,000 budget when the program launched earlier this year.

Eligible businesses can borrow between $10,000 and $75,000 at 0% interest. The money can cover everything from new equipment and inventory to marketing campaigns and hiring staff.

But here's what makes this program truly special: loan recipients also get free business coaching and technical assistance from Bridging Virginia, the nonprofit partner running the program. It's not just money. It's a complete support system.

"Small businesses are at the heart of vibrant communities, and every entrepreneur deserves the chance to grow with confidence," said Leah Fremouw, president of Bridging Virginia. The organization will work alongside the Henrico Economic Development Authority to identify and support promising local businesses.

To qualify, businesses must be located in Henrico County, create at least one full-time job paying a living wage, and show how the loan will support long-term growth. The program expects to fund about 20 businesses over the next three years.

The Ripple Effect

BilingualKid Language Immersion School shows exactly how these loans create waves of positive change. Founder Claudia Robles received one of the first three SCALE UP loans and plans to use it for building renovations that will let the preschool accept toddlers in addition to its current students ages 3 to 5.

"It's making a life-changing experience for us," Robles said. The expansion means more jobs for teachers and more spots for families seeking multilingual education in English, Spanish, and American Sign Language.

The program officially relaunched at the Spark RVA Small Business Celebration on April 29, kicking off National Small Business Month. The free event brought together entrepreneurs across the region to celebrate their contributions to the community.

David Sacks, community development manager for Henrico, sees SCALE UP as part of a growing toolkit to help small businesses thrive. The county has steadily built resources including the Enterprise Zone program and the Henrico Investment Program.

Small business owners interested in applying can visit bridgingvirginia.com/henrico for details or email cahub@bridgingvirginia.org to start a conversation about their growth plans.