Areas Served: Warren County
Elgible Applicants: new or existing retail or commercial business targeted to providing goods or services to Warren County, Virginia residents.
Eligible Uses of Loan Proceeds: equipment and inventory purchases, and working capital.
A maximum of 25% of loan proceeds may be used for working capital.
Financing Limits: A maximum of $10,000 may be loaned for a term not to exceed 5 years.
A minimum of 10 percent of the total project cost will be required in the form of borrower cash.
Job Creation Requirements: The job creation requirement is waived, but the borrower is expected to work full-time at the funded business.
Terms and Underwriting Standards: Loan term will generally be 5 years depending on the asset financed.
The rate will also be set based on the risk using the prime rate as the basis.
Contact InformationWarren County Economic Development Authority
Address: PO Box 445
City: Front Royal
State: Virginia
Website:
http://wceda.com
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