The Northern Virginia Technology Council (NVTC) and Fairfax-based Freedom Bank of Virginia announced Tuesday a $50,000 revolving loan fund for Northern Virginia entrepreneurs of color who have been affected by the pandemic.
NVTC and Freedom Bank of Virginia will seed the NOVA Technology Loan Fund, a gap financing program to be administered by the Springfield-based nonprofit Community Business Partnership Inc. (CBP).
“Freedom Bank dedicated itself in 2020 to helping clients and small businesses survive the COVID-19 pandemic and to a reinvigorated commitment to diversity and inclusion initiatives,” Freedom Bank President and CEO Joe Thomas said in a statement. “Therefore, this partnership is an ideal fit and a platform where Freedom and its program partners can make a real difference.”
