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.
COVID-19 Loan Fund
Small businesses continue to face unprecedented uncertainty resulting from the Coronavirus pandemic. The EDA offers a special COVID-19 Micro Loan Program to assist Stafford businesses during these extraordinary times. This program provides low cost, short-term financing aimed to meet the immediate needs of businesses suffering substantial economic impact due to the pandemic.
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.
To learn more about EDA loan programs, contact Josh Summits.
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