TRRC Loan Fund

The Commission’s revolving loan fund was established in 2016 in partnership with the Virginia Resources Authority. The objective is to create a long-term mechanism to fund revenue-generating economic revitalization projects in the tobacco region, and to recycle loan repayments to assist future projects. Because loans are repaid, there is no matching fund requirement like that required for grants. Grant, loan or grant+loan requests may be submitted by eligible applicants (governmental entities and IRS-designated nonprofits) through the Commission’s regularly-announced grant cycles, and the Commission will select projects to be sent to VRA for credit analysis prior to a potential loan offer. It is anticipated that, for certain projects, for-profit entities may be eligible users of funds loaned to eligible applicants. For more information on the requirements, priorities and process for the Loan Fund please take a look at the documents to the right or contact us.