Small Business Loans
Fund Your Business
Are you wanting to start or grow a business?
Peoples Advantage Federal Credit Union is committed to supporting your business with customized lending options. We recognize that small businesses are vital to our community, and we are committed to helping you succeed and thrive.
Experience peace of mind with our competitive rates, flexible terms, and personalized guidance throughout a seamless application process.
We offer:
Secured or Unsecured Business Lines of Credit
Micro Loans
To apply, schedule an appointment to speak with one of our small business member advocates.
Business Line of Credit
A business line of credit is a flexible financing option that enables businesses to borrow up to a predetermined limit and repay as needed. A line of credit allows you to withdraw funds as needed, paying interest only on the amount used. Key Features: - Revolving Credit - Flexible Borrowing - Variable Interest Rates - Secured or Unsecured - Ideal for managing cash flow
Ready to apply?
Micro Loans
A business microloan is a small, short-term loan designed to help startups and small businesses cover essential expenses typically ranging from $5,000 to $50,000. Key Features: - Smaller Loan Amounts – Ideal for startups, new businesses, or those with limited credit history. - Flexible Use – Can be used for inventory, equipment purchase, working capital, or other business needs. - Shorter Repayment Terms – Usually repaid within six months to five years. - Easier Qualification – Often available to businesses that may not meet the traditional bank loan requirements. - Mentorship – We provide coaching and resources.
Ready to apply?
Coming Soon... Business Real Estate Loans
Big things are on the horizon for local business owners! Peoples Advantage Federal Credit Union will soon offer Business Real Estate Loans—designed to help you purchase, refinance, or expand your commercial property with flexible terms and personalized support. Stay tuned for financing that works as hard as you do.
Success Stories:
Meet our Partners for Business Resources:
Virginia State University Center for Entrepreneurship
The VSU Center for Entrepreneurship provides high‐quality entrepreneurship education and services that spur innovation and small business opportunity among diverse groups. They have a specic emphasis on assisting the Central & Eastern Virginia regions' large minority, veteran, and student populations with launching and operating successful, socially responsible ventures that lead to economic growth for the regions we serve.
St. Luke Legacy Center
The St Luke Legacy Center is continuing the legacy of Mrs. Maggie L. Walker by creating space for underrepresented families to flourish in every aspect of life. We recognize that at the age of 14, Maggie knew she could make an impact on her community. Through our wraparound service and initiatives, we hope to instill the same motivation in today’s youth. They are a female led, minority owned, social enterprise with a mission to impact the community in a positive way, continuing the legacy of Mrs. Walker and all the others before them.
MBL Bridge
The MBL Bridge is a very diverse group of business owners, marketing professionals, human resource advisors, business analysts, and more, who have come together for a common goal; ensuring the success of The Bridge and upholding the principles The Metropolitan Business League has set forth. They strive to lead by example and provide a resource for all young professionals and entrepreneurs in the areas we serve and beyond.
Metropolitan Business League
A non-profit, membership-based business association that creates business connections in Central Virginia. For over 53 years they have fostered business development and expansion for small, women- and minority-owned businesses. They make every effort to fully understand each enterprise and the factors critical to its long-term success.
Department of Small Business & Supplier Diversity
The Virginia Department of Small Business and Supplier Diversity (SBSD) has four Divisions including; , , , and SBSD Agency Administration.
Crater Planning District Commission (Procurement Technical Assistance Center)
The Crater Planning District Commission helps Virginia businesses in the service area identify, compete for, and win government contracts. Our assistance includes teaching, mentoring, one on one assistance, and coaching. We also provide our clients with a set of electronic tools to research and identify government contracting opportunities. Their services are available at no cost to any Virginia business within their area of coverage, large or small, that possesses the interest and potential to perform work — as a prime contractor or a subcontractor — for federal, state, or local government agencies.
The Jackson Ward Collective Foundation
The Jackson Ward Collective Foundation pays homage to their roots in Richmond, Virginia where the Jackson Ward community was once known as America’s “Black Wall Street”. At the start of the 20th century, it was one of the richest black neighborhoods in the entire country, pulsating with theaters, stores, and medical practices. This is where Maggie L. Walker founded St. Luke’s Penny Savings Bank, one of the first Black-owned banks in the nation and gave Black entrepreneurs access to capital. This is where Black people came not just to live, but to thrive. They intend to replicate that story of Black success and echo the spirit of Black entrepreneurship throughout the Richmond region, Virginia and beyond.
Bridging Virginia
Bridging Virginia, a community development loan fund, is proud to provide access to affordable capital and technical assistance for historically marginalized small businesses and places. Through CARE, COLLABORATION, and CAPITAL our communities can THRIVE.
Virginia Community Capital
VCC’s lending capital fills a gap in community development finance throughout Virginia. Through their network of public and private partnerships, they create investments that have an impact in the regions of greatest need. They offer flexible financial tools and advisory services to a range of project types. With lenders and officers in all corners of the Commonwealth, they are constantly on the lookout for the next great real estate or small business project that will make a big impact.
Blocal Search
The latest nationwide black business directory that focuses to highlight listed business and provide encouragement, tips, and posts to make you think.
Blackwell Legacy Group
The Blackwell Legacy Group helps service based small businesses increase their leads and double their revenue through effective marketing, business development, and specialist.
P & L Business Solutions
P& L Business Solutions help business owners, in Midlothian/Chesterfield VA and virtually, to have less stress by correctly setting up and managing the bookkeeping process so that you can focus on growing and managing the value-added components of your business! Their cloud-based QuickBooks Online bookkeeping and accounting process allows business owners or managers in Midlothian/Chesterfield VA to be able to access the business’ key financial metrics and reporting at any time. In addition, they offer payroll management and employee time tracking solutions with GPS location viewing capabilities – a must for many businesses in today’s complex environment.
Any SBDC Center within the Peoples Advantage Federal Charter
The Virginia SBDC is an organization of 27 local Small Business Development Center offices across Virginia providing professional business advising, training, and business resources to help grow and strengthen Virginia businesses.
Any Chamber of Commerce within the Peoples Advantage Federal Charter
The Virginia Chamber’s mission is to be the leading non-partisan business advocacy organization that works in the legislative, regulatory, civic, and judicial arenas at the state and federal level to be a force for long-term economic growth in the Commonwealth. Their vision is to be the voice of the Virginia business community and the most influential business advocacy organization in the Commonwealth.
Women’s Business Center of Richmond
The WBC Richmond provides one-on-one counseling, training, technical assistance, networking, and resources vital to the success of women entrepreneurs in the Richmond area. Services that are desperately needed as female entrepreneurs and women-owned small businesses struggle to recover during an economic downturn and worldwide pandemic.
Always with you.
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