Financing Programs

Business One Stop (BOS)

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

​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.

    • 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
        • 60-month repayment
        • Maximum $150,000 per location for centers, $10,000 for home-based providers. The borrower 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

        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
          • 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.
          Contact Information

          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.