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Business/Loans
Freedom First Credit Union

Roanoke Capital Access Fund

Business/Loans
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Capital Access for Roanoke's Small Businesses

Freedom First has partnered with the City of Roanoke's Economic Development Authority (EDA) to offer the Roanoke Capital Access Fund to small local businesses operating in the City.

Eligibility

To apply for a business loan through the Roanoke Capital Access Fund, the business must be:
  • A Roanoke City licensed business
  • Business utilizing accelerator and mentoring programs such as RAMP, the Advancement Foundation's Gauntlet, and the Roanoke Small Business Development Center
  • Innovation corridor entrepreneurs, businesses, and higher education professionals working to create opportunity and success in research, healthcare, and technology

Program Terms2

  • Maximum loan amount of $50,000
  • 60-month term
  • Rates as low as 7.00% Annual Percentage Rate (APR)2
  • Application fee of $500
  • Membership with Freedom First Credit Union
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1Completion of this form in no way guarantees approval of a loan nor constitutes an application for a loan. The purpose of this form is solely to determine eligibility to apply for this loan product. An application is required and will be subject to credit approval.

2APR = Annual Percentage Rate. Rates are valid as of May 5, 2022, and may vary depending upon credit qualifications, selected terms and applicable discounts. Your APR will vary with the market based on the Prime Rate. An estimated monthly payment of $201.00 would result for a loan amount of $10,000 at 7.50% APR for 60 months. Rates are subject to change without notice. No prepayment penalties. Certain restrictions apply. Loans are subject to credit approval. Repayment terms may vary depending upon rate.

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