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  • Micro-Loan Program

     

    Rappahannock Goodwill Industries, in collaboration with ECDC Enterprise Development Group, provides micro-finance loans to help people with disabilities and other barriers to employment, including low-income individuals, start their own business. 

     


    The U.S. Small Business Administration (SBA) microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.  The SBA provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.


    The Virginia Small Business Financing Authority's Small Business Microloan Program (VSBFA) is the Commonwealth of Virginia's economic development and business financing arm. They assist banks make loans to businesses that can demonstrate repayment ability, but where the bank needs additional collateral support or a more robust secondary repayment source. 

     


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