InvestFXBG Loan Program

InvestFXBG Color LogoInvestFXBG is a loan program funded and administered by the Fredericksburg Economic Development Authority (EDA) for small and growing businesses in the City of Fredericksburg (22401). InvestFXBG seeks to support both new and established city businesses in critical stages of their growth.

InvestFXBG loans:

  • Range from $15,000-$50,000, although larger amounts may also be considered under special circumstances.
  • Carry competitive interest rates based upon an overall risk assessment.
  • Have loan terms that are generally four years or less, although longer loan terms may be considered under special circumstances.
  • Have borrower fees that include typical closing costs and third-party administration fees if necessary, based on the size and complexity of the program.  Closing costs can be rolled into the loan.
  • Have a typical turnaround time for loan applications of 45 days.

Mission Statement

The mission of InvestFXBG is to provide capital for business, community, and economic development purposes with the goal of creating jobs, encouraging private investment, and recirculating community capital through prudent lending practices within the City of Fredericksburg.

Program Requirements and Eligibility

Business applicants must be located in the City of Fredericksburg (22401) to be eligible for InvestFXBG.  Applicants are required to be in compliance with the City of Fredericksburg taxes, permits, fees and regulations prior to applying.

Borrowers may be required to enter into a technical assistance agreement with the University of Mary Washington Small Business Development Center (UMW SBDC) either before the loan is made or on an ongoing basis. Borrowers may also be required to report periodically to the EDA at their monthly meeting.

All businesses located within the City of Fredericksburg (22401) are eligible to apply, but the EDA has identified five specific goals that they seek to support through their lending.  Applicants whose projects meet one or several of these goals are especially encouraged to apply.

Program Goals:

  1. Assist in providing capital for the attraction, retention, and expansion of new and existing businesses that may or may not have access to conventional financing.
  2. Support business and community investments that create jobs, with a special emphasis on jobs that provide life-sustaining wages.
  3. Provide capital that increases business ownership and encourages entrepreneurship, especially among historically underrepresented communities like women- and minority-owned businesses.
  4. Stimulate the redevelopment of underutilized and/or deteriorated commercial and industrial properties.
  5. Seek out investment opportunities in which EDA capital leverages additional private capital investment.

Applying for InvestFXBG

InvestFXBG Credit Policy

InvestFXBG Initial Application


Applicants are encouraged to contact the Department of Economic Development and Tourism with questions prior to submitting the initial application by calling 540-372-1216 or e-mailing the program administrator.