Are you looking to start or expand your small business? Microlending could be the answer!

SCCF does microlending in the Shenandoah Valley and can help you fund this exciting next step in your life as an entrepreneur! Our loans range from $1,000 to $50,000 and our interest rates range from 7.25% to 8.5% with our terms ranging from 1 to 6 years.

To apply for a loan, follow the below steps.

1. Refine Your Business Plan

It’s important to have a clear vision and be able to articulate the plans for your business. Dig in deep, research, and formulate your plan. Notsure where to start? We can help with either our 8 week Business Planning Course or through our one-on-one training course. We also have a business planning templates you can use to get started!

2. Fill Out a Loan Application

Using the form below, tell us basics about your business and the loan you are seeking. We will need information from all owners (anyone with
at least 20% ownership.) Some of these pieces may be able to be pulled directly from your business plan.

3. Gather Application Materials

One per Owner: (any individual obtaining at least 20% ownership in business)

    • Recent copy of personal credit report and score
    • Copy of personal tax returns (3 years)
    • Copy of driver’s license or other form of ID
    • Copy of any bankruptcy discharge order during the past 7 years (if applicable)

Additional Documents for Existing Businesses

    • Complete Business Plan with 2-year cash flow projections
    • Copy of business federal tax returns (3 years)
    • Income statement & balance sheet for 3 years including year to date
    • Copy of any bankruptcy discharge order during the past 7 years (if applicable)

4. Set Up a Meeting to Review Loan Application Materials with SCCF

Schedule a MeetingNow that you’ve collected your materials, set up a meeting with our team to review your application and provide any feedback. This will include reviewing your business plan and financials closely to anticipate any concerns the Loan Review Committee may have.

5. Application sent to the Loan Review Committee

The Loan Review Committee is a group of skilled community volunteers, who will review loan applications based on the strength of the business plan, the collateral offered to secure the loan, equity provided to the business, and credit history. Credit is only one factor in the decision making. Often, the Committee will come back to the applicant with questions regarding the application. Please note: if the loan application is above $20,000 it must also be approved by the SCCF Board of Directors.

6. Loan Outcome Determined

Once the Loan Review Committee and/or the Board of Directors has made a decision regarding your loan application, you will be
notified and next steps will be established. If approved, closing steps will be pursued. If you
are not approved, we can continue working with
you to develop next steps.