SCCF Tenth Anniversary Loan Fund

Joseph White, owner of Cranberries Grocery, receiving the first loan from the 10th Anniversary Loan Fund
Joseph White, owner of Cranberries Grocery, receiving the first loan from the 10th Anniversary Loan Fund

The Staunton Creative Community Fund is celebrating ten years of assisting businesses starting and expanding by offering up to $50,000 in 0% interest loans to businesses in the Central Shenandoah Valley. Made possible by a grant from the Virginia Small Business Economic Development Fund through the Department of Housing and Community Development, this loan fund is an opportunity for micro-businesses to access the capital they need to grow.

Lending from this pool of funding will be limited to $25,000.00 per applicant, and will be offered on a first-come, first serve basis.

In order to apply for this funding, all applicants will be required to submit a business plan with 2-year cash flow projections (for more details on completing a business plan, see our education page). Other materials will include:

  • A completed Loan Application
  • Personal Financial Statement (one per owner)
  • Copy of any bankruptcy or discharge order from the past 7 years
  • Copy of personal credit report and score from the previous 6 months (or permission to run a credit report, one per owner)
  • Copy of personal tax returns (previous 3 years, one per owner)
  • Copy of driver’s license or other form of ID (one per owner)

For existing businesses, we will also request:

  • Copy of Business Federal Tax Returns (up to¬† 3 years)
  • Income statement & balance sheet for up to 3 years, including year-to-date
  • Copy of any bankruptcy discharge order during the past 7 years (if applicable)

All applicants are encouraged to schedule a meeting with Nick Walge, Director of Capital, prior to submitting a loan application. Please note that SCCF will charge a fee of 2% for any loan applications submitted to the Tenth Year Anniversary Loan Fund.