Working for Your Business

The Lynchburg Office of Economic Development and the Lynchburg Economic Development Authority offer a broad range of programs and resources to facilitate business growth, business support development, provide financing and improve infrastructure and livability. The success of our businesses is our first priority, and we offer a variety of support programs, initiatives and resources to make sure your business has the tools and environment to grow and prosper. Review the support services available below and Request a Meeting to discuss your needs. 

Download a copy of Lynchburg’s NaviGrid to see various services and support opportunities that are available to you. Have questions? Contact us! 

 

Business Support Services

Small Business Development Center at CVCC (SBDC)
The SBDC at CVCC is an effective provider of customized counseling and education for small businesses in the region. You can meet in private with a certified business analyst to discuss your specific issues. Or you can attend small-group trainings for in-depth presentations on critical management topics. Located at Central Virginia Community College, the SBDC serves the City of Lynchburg, Amherst, Appomattox, Bedford, and Campbell Counties in Virginia. Learn more

Lynchburg Business Development Center
The Business Development Center offers counseling services, financing options and incubator space. Learn more

Market Analysis and Economic Data
The Office of Economic Development can provide in-depth market analysis and econometric data for your business or development project.  From a simple radius report of demographic statistics to in-depth market segmentation and leakage analysis and real estate market feasibility studies, we can make sure you have the right business information to make the right business decisions.  

Export Counseling
The Virginia Leaders in Export Trade, or VALET, program is designed to increase your company’s sales and provide your business access to new overseas markets.  A trade manager will direct your business through the free program where your business will receive free consultation and assistance. Visit www.exportvirginia.org for more information.

Development Assistance

One-Stop Project Review & Pre-TRC

Let us help clear the way for your development project. Our partner departments can guide you through the plan review and permitting process, and our Pre-Technical Review Committee (TRC) meetings will save you time and money.  Contact us before you begin and not only can we act as your liaison, we can make sure you know all the project support available.

Historic Tax Credits and New Market Tax Credits
The historic City of Lynchburg  enjoys the benefits of leveraging state and federal Historic Tax Credits to finance redevelopment projects, along with qualified census tracts to qualify for New Market Tax Credits for large-scale investments. For more information on Lynchburg’s historic districts, click here.

Brownfields Assistance

The Lynchburg Office of Economic Development has led the brownfield testing and remediation effort through our “Fields of Opportunity” program.  Leveraging the support of private property owners and environmental consultants, we have begun the process of addressing brownfield remediation on a city-wide scale. To support that effort, the City was awarded one of the first-ever Virginia Brownfields Assistance Fund Grants, directed toward redevelopment along 5th Street.

  Learn more

HUB Zones
The City of Lynchburg has Qualified Distressed Census Tracts that provide access to Historically Underutilized Business (HUB) Zones incentives.  Though these programs have limited applicability, they are important economic development tools for Lynchburg. Learn more

Infrastructure Assistance

Where applicable, the Lynchburg Office of Economic Development or the Lynchburg Economic Development Authority may provide infrastructure in support of large-scale investments that provide a positive return on investment or expand infrastructure availability overall.

Financing

EDA Revolving Loan Fund

The Lynchburg Economic Development Authority offers up to $250,000 for business and development financing at fixed rates with flexible terms.  This fund provides the flexible capital needed to support business creation, expansion and development.  Contact our loan administrator at bsteward@lbdc.com or call 434-582-6100 for more information.



Microloan & Small Business Financing

Microloans for start-ups and micro-business enterprises are available, along with more traditional SBA funding, through the Lynchburg Business Development Centre.  These loans help drive new business creation and support entrepreneurial endeavors.  Please contact the LBDC at bsteward@lbdc.com or call 434-582-6100.

Commercial Lender Pool

The Office of Economic Development has organized local commercial lenders into a lending pool available to review business and development proposals and loan applications.  In many instances, participating lenders can offer favorable rates.

State and Federal Resources

The Commonwealth of Virginia provides working capital to qualified small businesses through the Virginia Small Business Financing Authority.  The federal government directs many business financing programs through the Small Business Authority.

Other Loan Assistance
If our programs can’t fill a specific business financing need, we can connect you with the resources that can.  We are happy to support our corporate partners in their attempts to secure outside grants and loans such as SBIR, STTR and other research assistance financing. Let us know how we can support your needs.

Community Initiatives

James River Arts & Cultural District
 Program
Downtown, and portions of 5th Street and Rivermont Avenue comprise the James River Arts & Culture District.  Why is an arts district under economic development?  Because this industry sector is critical to revitalization, business and talent attraction, and tourism.  

Along with incentives for arts and cultural businesses locating within the district, the Office of Economic Development administers the Arts & Cultural Program to support arts and cultural events and activities within the District. Up to $5,000 is available for qualifying projects; the activity or event must be arts and culture related and provide a public benefit and economic impact.  

Educational Partnerships

The Lynchburg EDA and Office of Economic Development recognize the importance of supporting quality education in a comprehensive economic development strategy.  That’s why for years we have enjoyed a strong partnership with Lynchburg City Schools, providing educational programs to students that promote entrepreneurship and business acumen. We have developed award-winning workforce development and business education programs, including GrowOne, support for the Lynchburg Education Foundation and developing of a kids’ Coding Camp. 

Neighborhood-Based Economic Development

What’s happening in our communities depends on what is happening “on the street;” and that includes business and infrastructure development.  Recognizing the need to engage the entire neighborhood—both residents and businesses—LOED organized partner agencies to deliver a comprehensive approach to economic development that brings all parties together to discuss master planning, infrastructure investments and community needs.

Community Event Support
The Lynchburg EDA and Office of Economic Development are proud to support Get!Downtown, the Virginia 10-Miler and the Turkey Trot – community traditions that provide economic benefit while illustrating the vibrant character of Lynchburg.  The Hill City couldn’t enjoy its unique character without its unique characters, and we thank them all for coming out to these events.

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