Financing Programs

Business Information​ Services​​

Virginia Business One Stop is an interactive portal designed to accelerate business formation and provide information for existing businesses. The online registration system will walk a potential business owner through each step needed to establish a new business. In addition, BOS helps existing businesses expand. The tool streamlines business-registration paperwork across seven agencies.

​Center for Innovative Technology(CIT)

The Center for Innovative Technology helps grow Virginia's technology industry. Its CIT Entrepreneur program provides up to $100,000 in funding for promising high-growth technology companies and helps owners identify potential equity investors.


Center for Innovative Technology
2214 Rock Hill Road, Suite 600
Herndon, VA 20170-4228
(703) 689-3000

The following resources may be helpful to entrepreneurs and CEOs of emerging and new businesses.

​Virginia Small Business Financing Authority (VSBFA)

The Virginia Small Business Financing Authority (VSBFA) is the Commonwealth of Virginia’s business and economic development financing arm.

VSBFA “Small Business” Definition

  • Must be operating in Virginia, and licensed/good standing with SCC, local, or other licensing authority
  • Meet ONE of the following: Under $10M annual revenues or under $2 million tangible net worth or have less than 250 Virginia employees (some programs also require less than 750 total employees), or be a 501c3. ​

    All real estate loans are “owner-occupied commercial real estate.” No investment or residential.

    VSBFA Direct Loan Programs

    VSBFA makes a loan directly to Borrower typically either subordinate to the bank or secured by separate assets. The borrower applies directly to VSBFA which underwrites, closes, and manages the credit. ​

    For all VSBFA Loans:

    • Response time once VSBFA has received all required information: 1 week if VSBFA exposure is no more than $500,000 approximately 1 month if VSBFA exposure exceeds $500,000
    • Existing companies must have a history of profitable operations and satisfactory debt payment.
    • Startups must have business plans and projections.
    • VSBFA requires guarantees & pledge of all available business and personal collateral.
    • Minimum 10% cash equity expected for startups, more for existing businesses.
    • VSBFA programs cannot be used to compensate for fundamental business weaknesses.
    • No prepayment fees or closing costs aside from direct transaction costs.

    Loan Types

    • Maximum 40% of the total project cost not to exceed $500,000
    • For real estate and improvements, furniture/fixtures/equipment, permanent working capital
    • $500 application fee, recent fixed rate 4%
    • Start-up or existing business

    Focus on acceptable job creation/retention relative to the loan amount. For more information, contact VSBFA.

    • Maximum $10,000 -25,000
    • 48-month repayment
    • $100 fee, 6.25% fixed rate
    • Any business purpose other than investment real estate
    • Must have been operational at least 2 years
    • Owners’ credit scores must be at least 650 each

    For more information, contact VSBFA.

        • 60-month repayment
        • Maximum $150,000 per location for centers, $10,000 for home-based providersBorrower must be licensed and in good standing with the Virginia Department of Social Services.
        • Funds materials, equipment, supplies, playground, mini-buses, fencing
        • $100 application fee, 4% fixed rate

        For more information, contact VSBFA.

        Bank Credit Support Programs (Startups and Existing Businesses)

        Bank underwrites/commits to the loan subject to VSBFA involvement.​

          • VSBFA pledges cash collateral to the bank to help back a business loan
          • Maximum $500,000 or 40% of the loan amount, whichever is less.
          • Maximum involvement—5 years for term loans, 3 years for credit lines
          • Cost $200 application fee
          • Loan Guaranty-VSBFA provides an additional guaranty to the bank
          • Maximum 75% of the loan amount or $750,000, whichever is less
          • Maximum involvement-7 years for term loans, 5 years for credit lines

          Cost $200 application fee, 1.5% of the guaranteed amount due at closing

          • VSBFA buys a portion of a bank loan
          • Maximum $500,000 or 40% of the loan amount, whichever is less.
          • Maximum hold period of 10 years
          • $500 application fee, VSBFA receives the same interest rate as the bank

          For more information, visit the VSBFA website.

          Contact Information

          Karen White

          Regional Lending Manager​
          Virginia Small Business Loan Programs Hampton Roads, Southern VA, Central VA Areas
          (804) 371-8197

          ​​​Small Business Lending from Virginia Community Capital (VCC)

          VCC works with small business owners around the Commonwealth to find creative ways to support growth and help them meet their goals.​ They ask for tax returns, business plans when applicable, projections, etc. like a traditional bank. The difference is that VCC Bank has the flexibility to take on slightly more risk than a traditional bank might because of grants we receive from partner organizations to deploy financing out to mission-aligned projects. VCC also utilizes government guarantee programs such as SBA, USDA, and VSBFA.