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.