Areas Served: Rockingham, Highland, Bath, Augusta, and
The Microloan Program provides small, short-term loans to Virginia small business concerns in Rockingham, Highland, Bath, Augusta, and Rockbridge counties and cities of Buena Vista, Harrisonburg, Lexington, Staunton, and Waynesboro.
The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance.
These intermediaries make loans to eligible borrowers.
The maximum loan amount is $50,000, but the average microloan is about $13,000. Microloans may be used for the following purposes:
- Working capital
- The purchase of inventory or supplies
- The purchase of furniture or fixtures
- The purchase of machinery or equipment.
Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.
Contact Information
Staunton Creative Community Fund
Address: 35 South New Street
City: Staunton
State: Virginia
Website:
https://stauntonfund.com/
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