Funding Sources
Funding Sources
If you are looking for funding to start or grow your business, these links may help you research possibilities. WV SBDC does not provide direct funding, nor do we endorse any non-government websites, companies, or applications. We cannot attest to the accuracy of the information provided by third-party sites or any other linked site. These listings and links are provided for reference only.
Loans and Microloans
SBA Guaranteed Loans
The U.S. Small Business Administration offers several loan programs to help small businesses start up and expand.www.SBA.gov
SBA Microloans
SBA’s Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers.www.SBA.gov/microloans
First Microloan of WV
The Washington County Council on Economic Development provides SBA loans to West Virginia businesses.304-604-3560
http://www.washingtoncountypa.org/wvsba.html
KISRA
Kanawha Institute for Social Research & Action offers microloans to businesses expanding and creating jobs in West Virginia. Loans range from $1,000 to $50,000 for a term of up to 6 years.304-768-8924
www.KISRA.org
Natural Capital Investment Fund
Loans to natural resource based businesses to advance sustainable economic development.304-876-2815
www.conservationfund.org
The Progress Fund
Loans up to $1 million to restore old buildings, or finance a tourism or hospitality business.724-216-9160
www.progressfund.org
United States Department of Agriculture (USDA)
Loans for equipment, machinery, supplies, or inventory for agriculture based businesses.(304) 284-4860
www.rd.usda.gov
WV Economic Development Authority (WVEDA)
Loans for manufacturing, distribution centers, technology based companies.$50,000 to $10 million
Job creation emphasized
http://www.wveda.org/
WV Rural Health Infrastructure Loan
Loans to health providers for building construction, renovation, expansion equipment purchase, technology purchase, and practice acquisition.304-397-4071
http://wvruralhealth.org/LF/
Woodlands Development Group
Operating as a Community Development Financial Institution (CDFI), Woodlands, Community Lenders (WCL), and affiliate of Woodlands Development Group, makes low-interest loans to qualified businesses and communities in Randolph, Tucker and Barbour county areas. Loans are specifically earmarked for small businesses and non-profits that have difficulty obtaining financing elsewhere.http://wdgwv.org/
304-636-6495, ext. 29
Wyoming County Economic Development Authority
Wyoming County Economic Development Authority’s Loan Program:
- provides capital that small businesses need to start and grow in Southern West Virginia.
- fill gaps in small business capital needs that are not addressed by other lending institutions.
- partners with other lending institutions to maximize the leveraging of loan funds.
http://wyomingcounty.com/loan-programs.aspx
Venture Capital
Invests money in return for partial ownershipWV Jobs Investment Trust
A public venture capital fund created to develop, promote and expand West Virginia’s economy by making investment funds available to eligible businesses.304-345-6200
www.WVJIT.org
INNOVA Commercialization Group
Part of the High Technology Foundation, this capital investment program provides business support services to the projects in which it invests.877-363-5482
http://wvhtf.org/innova-commercialization-group/
Grants
Small Business Innovation Research Program
Businesses compete to solve problems for federal agencies. Participants must conduct research to receive funding.www.SBIR.gov
https://www.sba.gov/offices/headquarters/oca/resources/6827
Governor's Guaranteed Workforce Program (GGWFP)
Provides funding for on-the-job training and customized training. Must be pre-approved.304-558-2234
http://www.wvcommerce.org/business/workforcewv/employers/training
Crowdfunding
Kickstarter
Focused on creativity, the website will allow you to post your need and tell your story. Kickstarter backers have funded more than $1.9 billion projects, such as films, music, stage shows, comics, journalism, video games, technology and food-related projects. People who back Kickstarter projects are offered tangible rewards and one of a kind experiences in exchange for their pledges of funding.www.kickstarter.com
Dealstruck
Term loans up to $250,000 and lines of credit up to $500,000 for qualified businesses.http://www.dealstruck.com
Kiva
Non-profit organization with a mission to connect people through lending to alleviate poverty. The Kiva Zip community provides access to 0% interest loans and a community passionate about helping entrepreneurs in the U.S.www.kiva.org
https://zip.kiva.org/borrow
Indiegogo
One of the first websites to offer crowdfunding, it is a launch pad for creative and entrepreneurial ideas. Has generated more than $800 million funding for 600,000 projects.www.indiegogo.com
Peer-to-Peer Lending
Funding Circle
Loans from $25,000 to $500,000 with 5.49%+ interest rate. Move or expand your business, buy inventory or equipment, or refinance business debt.www.fundingcircle.com
Prosper
Connects people who need money with people who have money to invest. Loans up to $35,000 with 5.99%+ interest rate.www.prosper.com
Lending Club
Loans up to $300,000 with 5.49%+ interest rate. Must be in business 24 months.www.lendingclub.com