Targeted loan programs help Stafford’s business community prosper
Micro Loan Fund
The Micro Loan Program provides low-cost, short-term financing aimed at growth opportunities and immediate needs of new and existing businesses. Eligible businesses include, though are not limited to, retail businesses, service enterprises, small batch manufacturing firms, makers, and advanced technology businesses. Businesses must be registered and current with Stafford County.
Business Growth Fund
The Business Growth Fund provides market-rate gap financing to businesses for commercial real estate development; furniture, fixtures, and equipment; inventory; and working capital.
Eligible businesses include commercial real estate development companies, non-profit organizations, non-profit CDCs engaged in real estate development projects, commercial and industrial businesses, wholesale, retail, service enterprises, advanced technology companies, and manufacturing firms. Businesses must be registered and current with Stafford County.
Smart Technology Innovation Loan Fund
The Smart Technology Innovation Loan (STIL) is designed to stimulate the growth of new and innovative technology-based businesses in Stafford County. The STIL provides early stage capital to technology companies and businesses as a forgivable loan.
The Program is part of the strategy to create new jobs, encourage new business start-ups and expansion, and grow tax base by assisting entrepreneurs and stimulating business growth in the County.
To learn more about EDA loan programs, contact Josh Summits.
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