Business financing in Henrico County.
County-by-county financing guides. No paperwork. No social. No ID.
5 institutions are headquartered inside the Henrico County line, and 5 more keep a branch here. Below, we say which is which.
Not this lane? Home FinancingPersonal Financing
The doors in Henrico County.
The CDFIs, credit unions, and microlenders that actually say yes — county by county, in two languages. We are not a lender. Nobody paid to be listed. And where a county has no good doors, we say so.
- 10
- DOORS HERE
- 5
- BASED HERE
- 67
- VA COUNTIES WITH DOORS
- Lane
- Business Financing
- People
- 334Kresidents of Henrico County
- Elsewhere in VA
- Fairfax County →17 doors — the biggest list of any other county in Virginia
- State
- Virginia →67 of 133 counties hold a door in this lane
Certified by the U.S. Treasury to lend where a bank will not. Nonprofit, patient, and used to a file that is not clean.
Bridging Virginia Inc · Locus Bank, Inc.Owned by their members, not by shareholders. They look at your whole story rather than a score, and that is the difference when a bank says no.
Argent Credit Union · Bayport Credit Union- Bridging Virginia IncCommunity lending · Business capital
- Connects Credit UnionPersonal · Home · Business capital
- Henrico Credit UnionPersonal · Home · Business capital
- Locus Bank, Inc.Personal · Business capital
- Locus Impact FundCommunity lending · Business capital
Based elsewhere, with a member-facing office inside the Henrico County line. You can walk in.
- Argent Credit UnionPersonal · Home · Business capital
- Bayport Credit UnionPersonal · Home · Business capital
- Langley Credit UnionPersonal · Home · Business capital
- Peoples Advantage Credit UnionCDFI-certifiedPersonal · Home · Business capital
- Virginia Credit UnionPersonal · Home · Business capital
- Accion Opportunity FundAccepts ITIN
Nonprofit small-business lender. Accepts ITIN in place of SSN. Serves most states, in English and Spanish.
Business capital - Grameen AmericaAccepts ITIN
Microloans for women entrepreneurs. Requires photo ID and proof of address — no SSN requirement. Branches in major metro areas.
Business capital - Mission Asset FundAccepts ITIN
Zero-interest lending circles and credit building. SSN or ITIN accepted. Works through nonprofit partners across the country.
Personal
How to read this list.
We do not ask for your name, your email, or your number. Nothing on this page changes based on who you are.
A door is headquartered here when its head office sits inside the county line. The rest are based elsewhere and keep a branch you can walk into. We list both, and we label which is which.
Every institution on this page comes from public federal data — the CDFI Fund certified list (Aug 2026), NCUA credit union data (Jun 2026), and the SBA microloan intermediary list (Sep 2026) — plus a short national tier we verified by hand. We refresh each list as its agency publishes. No listing is paid.
This guide helps solo contractors and small business owners in Henrico County, Virginia understand their financing options in plain language. It covers who qualifies, what documents you need, and which local lenders, CDFIs, and credit unions actually serve this area — including ITIN-friendly options. It also explains Virginia-specific rules and common traps to avoid so you can make a confident, informed decision.
What Is Business Financing?
Business financing is money you borrow or receive to start, run, or grow a business. It can come in many forms — a term loan (a lump sum you repay over time), a line of credit (flexible access to funds up to a set limit), a microloan (a small loan, often under $50,000, designed for newer or smaller businesses), or even a grant (money you do not have to repay).
Some financing is secured, meaning you offer collateral like equipment or property.
Other financing is unsecured and based mainly on your credit history and cash flow. In Henrico County, you have access to a layered network of local banks, nonprofit lenders, credit unions, and community development financial institutions (CDFIs) that understand the regional economy far better than a national online lender ever could. Starting local is almost always the right first step.
Forget what the banks say.
Henrico County sits at the heart of the Richmond metro area, with a diverse economy anchored by healthcare, logistics, construction, professional services, and a growing technology sector. This matters because many local lenders tailor their products to these industries.
Generally speaking, you may qualify for business financing in Henrico County if you:
- Have been operating your business for at least 6–24 months (requirements vary by lender)
- Can show steady revenue or a credible business plan if you are just starting out
- Have a personal credit score of 600 or above for most conventional loans — though CDFIs and microloan programs often work with scores below that
- Are a sole proprietor, LLC, corporation, or partnership registered with the Virginia State Corporation Commission (SCC)
- Do not have recent bankruptcies or tax liens (though some nonprofit lenders will still work with you on a case-by-case basis)
If you are an immigrant entrepreneur or do not have a Social Security Number, you are not automatically disqualified.
Several lenders in the Richmond-Henrico area accept an ITIN (Individual Taxpayer Identification Number) instead.
You will find those options called out in the Local Lenders section below.
Solo contractors — especially those in construction, landscaping, cleaning, or home repair — are a strong fit for microloans and equipment financing, both of which are well-represented locally.
Get your papers in order.
Gathering your paperwork before you approach a lender saves time and builds trust. Most lenders in Henrico County will ask for some combination of the following:
Identity & Business Registration
- Government-issued photo ID (passport, driver's license, or consular ID)
- ITIN or SSN
- Virginia SCC Certificate of Good Standing or business registration documents
- EIN (Employer Identification Number) from the IRS — free to obtain at irs.gov
Financial Documents
- Last 2–3 years of personal and business tax returns (or 1 year if your business is newer)
- Last 3–6 months of business bank statements
- Year-to-date profit and loss statement
- Balance sheet (if your business has one)
Business Plan (especially for startups or larger loans)
- Description of what your business does and who your customers are
- Projected revenues and expenses for the next 12–24 months
- Description of how you will use the loan funds
Additional Items Some Lenders May Request
- Business licenses or contractor licenses (required in Virginia for many trades)
- Lease agreement if you rent a commercial space
- List of equipment or assets if you are applying for equipment financing
- Articles of incorporation or LLC operating agreement
Do not worry if you do not have everything perfectly organized. A good local lender or CDFI counselor will walk you through what is missing — that is part of what they do.
The doors worth knowing.
These are organizations with a real presence in or near Henrico County that are known to serve small businesses, solo contractors, and underserved entrepreneurs.
ALL 10 DOORS, BY NAME AND BY TOWN- 10
- DOORS HERE
- 65
- ACROSS VA
Based in Richmond, Virginia. A community development financial institution, certified by the U.S. Treasury to lend where a bank will not, and used to a file that is not clean.
BEST FORCommunity lending where a bank has already said no, and working capital, equipment and payroll for a small business.Based in Richmond, Virginia. Treasury-certified as a CDFI, which is a mandate rather than a courtesy: reaching borrowers the mainstream market passes over is the job.
BEST FORWorking capital, equipment and payroll for a small business, and a personal loan, or building a credit file from nothing.Based in Richmond, Virginia. A CDFI — a mission lender, not a branch network. It is measured on who it reaches, which is why a thin file is not the end of the conversation.
BEST FORCommunity lending where a bank has already said no, and working capital, equipment and payroll for a small business.Based in Newport News, Virginia. A credit union — owned by its members rather than by shareholders, which is exactly what changes the conversation after a bank has said no.
BEST FORA personal loan, or building a credit file from nothing, and buying, repairing or refinancing a home.
Don't fall into these traps.
Not every lender has your best interest in mind. Here are the most common traps to watch for in Henrico County and across Virginia:
Merchant Cash Advances (MCAs)
An MCA is not technically a loan — it is a purchase of your future sales. The cost is expressed as a 'factor rate' (e.g., 1.35) rather than an interest rate, which makes it hard to compare to other products. Effective annual rates can exceed 100%. MCAs are largely unregulated in Virginia and should be approached with extreme caution.
Confessions of Judgment
Some out-of-state lenders include a 'confession of judgment' clause in their contracts, which allows them to take legal action against you without first notifying you. Virginia courts have limited the use of these clauses, but they still appear in contracts from lenders operating in other states. Read every contract carefully.
Excessive Origination Fees and Prepayment Penalties
Fees of 5–10% upfront, or steep penalties for paying off a loan early, reduce the true value of the financing. Ask every lender to disclose the Annual Percentage Rate (APR), all fees, and prepayment terms in writing before you sign anything.
'Guaranteed Approval' Claims
No legitimate lender guarantees approval before reviewing your financials. If you see this phrase, treat it as a warning sign.
Pressure to Sign Quickly
A trustworthy lender will give you time to read the documents, ask questions, and even consult a SCORE mentor or SBDC advisor before you sign. Anyone who pressures you to decide immediately is not acting in your interest.
Loan Stacking
Some brokers will place you with multiple lenders at once, resulting in overlapping loans that are very difficult to repay. Work with one lender at a time, and be transparent about any existing debt.
Fee-for-Grant Scams
You should never have to pay money upfront to apply for a grant. Legitimate grants from government agencies or CDFIs are free to apply for.
Everything below is set by Virginia, and it reads the same in every county in it. The 10 marks above are this county's own doors — who opens one is decided by them, not by the state.
The rules where you are.
Virginia has its own rules that affect small business borrowers and contractors. Here are the most important ones to know:
Virginia State Corporation Commission (SCC)
All businesses operating in Virginia should be registered with the SCC. This includes LLCs, corporations, and partnerships. Sole proprietors using only their own legal name may not need to register, but using a trade name (a DBA — 'doing business as') requires filing. scc.virginia.gov
Contractor Licensing
If you work in construction, electrical, plumbing, HVAC, or related trades, Virginia requires a contractor's license through the Department of Professional and Occupational Regulation (DPOR). Many lenders and bonding companies will ask for proof of licensure. dpor.virginia.gov
Virginia Small Business Financing Authority (VSBFA)
The VSBFA is a state agency that offers loan guarantees, industrial development bonds, and other credit enhancement tools that help small businesses access financing they might not otherwise qualify for. They work through banks and CDFIs — you apply through a lender, not directly through VSBFA. sba.virginia.gov
Henrico County Economic Development
The Henrico County Department of Economic Development occasionally administers or publicizes local incentive programs, grants, or revolving loan funds for businesses locating or expanding in the county. It is worth a call or a visit to their website to ask what is currently available. henrico.com/economic-development
Sales Tax and Business License (BPOL)
Henrico County requires most businesses to obtain a Business, Professional, and Occupational License (BPOL) and pay a local license tax based on gross receipts. This is separate from your Virginia state business registration. Make sure you are current on local licensing before applying for financing — lenders may check.
Interest Rate Caps
Virginia law sets a maximum interest rate of 12% per year for most consumer loans, but many business loans are exempt from this cap. This is one reason it is important to read the full loan agreement — business loan rates are less regulated and can vary widely.
The short version.
- 01
If you are a small business owner or solo contractor in Henrico County, Virginia, you have real options — and you do not need to rely on expensive online lenders to find them.
- 02
Start with the organizations that know your community: the Greater Richmond SBDC for free advising, Virginia Community Capital or LEDC if you are earlier-stage or need a microloan, and Virginia Credit Union or Atlantic Union Bank for more conventional loan products. If you are an immigrant entrepreneur or ITIN holder, ECDC and LEDC are two of the most accessible starting points in the region.
- 03
Before you apply anywhere, get your documents in order: tax returns, bank statements, a simple profit and loss, and your Virginia SCC and BPOL registrations. If you have a contractor's license, keep that current too.
- 04
Virginia's VSBFA can help make a bank loan possible even if your credit is not perfect, by providing a loan guarantee. And Henrico County's own Economic Development office is worth a call — local incentive programs come and go, and you want to know what is on the table.
Same county, another question.
Home FinancingPurchase, renovation, HELOC, and bridge loans for homeowners and investorsSEE IT IN HENRICO COUNTY →
Personal FinancingPersonal loans, credit building, and ITIN-friendly financing optionsSEE IT IN HENRICO COUNTY →67VA COUNTIES WITH DOORSThe whole stateEvery county in Virginia, in this same lane.65 institutions fund small businesses inside Virginia county lines.OPEN THE STATE →Still don't see your situation?
Ask Iris. She'll explain it the way it should have been explained the first time.