Financing Options

Financing

The West Virginia Economic Development Authority Offers Low-Interest and Direct Loans to Assist Businesses

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Loans

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Direct Lending

Direct lending is available to qualified manufacturing, distribution, and destination tourism entities.

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First Microloan of WV

Formed in 1989 to address economic challenges from industrial decline, the Washington County Council on Economic Development provides microloans up to $50,000 and larger loans up to $100,000 in select counties across Pennsylvania, West Virginia, and Ohio.

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Loan Guarantees

Secured bank loans for qualified projects may be insured up to 80% with loan proceeds to be used for working capital, and inventory. (Construction loans and lines of credit do not apply.)

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West Virginia Small Business Development Center

The West Virginia Small Business Development Center provides financial counseling, loan proposal assistance, and funding strategies to help businesses secure capital and make informed investment decisions.

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Wyoming EDA Statewide Loans

Our loan program provides capital to help small businesses in Southern West Virginia start and grow, filling gaps not covered by other lenders and partnering with them to leverage loan funds effectively.

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ARC Revolving Loan Fund

Loans from $1,000-$50,000

MOVRC Statewide Loans

The MOVRC loan programs have disbursed over $25 million, leveraging more than $54 million in other funds, to support small business growth in Southern West Virginia by partnering with economic development authorities and providing necessary training and flexible, low-interest loans.

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Faster WV

FASTER WV initiative provides business coaching, workshops, courses, technical assistance, mini-grants, and loans to promote small business growth in the region.

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Grants

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Exporting Grants

The International Development Team helps global companies establish facilities in West Virginia and supports local businesses in increasing exports, contributing to the state’s $8.1 billion export value in 2018.

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REAP Grants
(USDA Rural Development)

The Rural Energy for America Program provides guaranteed loans and grants to agricultural producers and rural small businesses for renewable energy systems and energy efficiency improvements, with applications open for Fiscal Year 2024.

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Faster WV
(Start-ups or Entrepreneurs)

FASTER WV initiative provides business coaching, workshops, courses, technical assistance, mini-grants, and loans to promote small business growth in the region.

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Investments

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West Virginia Jobs Investment Trust (JIT)

JIT is a public venture capital fund created to develop, promote, and expand West Virginia’s economy by making investment funds available to eligible businesses. JIT’s goal is to stimulate economic growth and provide or retain jobs within West Virginia. Opportunities to create a significant number of jobs while maintaining economic balance are favorably viewed. JIT is typically a minority investor and is not involved in the day-to-day operations of the portfolio companies.

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WV Capitol Access Program

The West Virginia Capital Access Program, administered by WVJIT, offers capital access to businesses that, while creditworthy, may not meet conventional lending criteria.

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Partner Community Capital

Partner Community Capital helps small businesses access the capital and other resources they need but can’t access. PCAP delivers flexible, empowering loans to borrowers in underserved communities. They also connect clients to strategic advisory services so they can make the best use of allocated capital.

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