SBA GTY Loan
The lender plays the central role in this loan package. If the lender is unable to provide conventional financing, the small business should request that the loan application be submitted to SBA, and if approved by SBA, the loan request will be guaranteed up to 80%. The maximum guaranty percentage for loans exceeding $100,000 is up to 75%. For further information, contact your local bank concerning the SBA Gty Program or Department of Development, 664-4338.

SBA LowDoc Loan
The LowDoc Program streamlines the loan application process for guaranteed loans less than $100,000. The LowDoc Program is designed to make the SBA Gty Loan more user friendly. Combining a greatly simplified application process with a rapid response from SBA loan officers-usually only two or three days-- LowDoc slashes pages and pages of bureaucracy and red tape out of the loan process. The lender also plays the central role in this loan package. For additional information, contact your local bank concerning the SBA LowDoc Loan Program or the Department of Development at 664-4338.

Virginia Small Business Financing Authority
Business expansion loan guarantees are available through the Virginia Small Business Financing Authority (804-371-8254), a State entity which guarantees loans for inventory, fixed assets and working capital, or through the Virginia Asset Financing Corporation (703-476-0504), a private non-profit certified development corporation issuing SBA 504 guarantees for financing fixed assets. VSBFA has loans up to $15,000 for equipment renovations of child day care centers. VSBFA also publishes Virginia Capital Resources Directory, a guide to grants, microloans, short and long term debt financing, and venture capital.

The Virginia Employment Commission (804-786-8624) publishes Virginia Resource Directory: A Guide to Services Available to Existing and Potential Businesses. It addresses business planning, financing, management and marketing. The Virginia Entrepreneur's Guide is a reference book that describes over 80 programs that assist business people in developing strategic plans, raising funds, increasing sales, and managing growth. An accompanying computer diskette provides several financial management programs. Available for $22.95 by calling 1-800-243-6840.

Economic Development Administration
The U.S. Dept. of Commerce's E.D.A. has grant programs to stimulate job creation through economic development research, planning, implementation and technical assistance. Eligible applicants include nonprofits, individuals, firms and governments. Virginia is served by the Philadelphia Regional Office at (215) 597-4603.

Foundation Grants
The Foundation Center in New York City publishes The Foundation Directory, which provides information on more than 5,000 foundations awarding over $5.3 billion annually. The Center also produces publications which list foundations awarding grants in specific fields such as the arts and culture, community and urban development, museums, recreation, etc. Call 1-800-424-9836.

The Virginia Foundation for the Humanities & Public Policy awards matching grants for historical, cultural and public policy programs. Call (804) 924-3296.

The Virginia Center on Rural Development (CORD) provides free computerized foundation searches for more than 8,000 grantmakers through the Rural Electronic Information Network System (REINS). Call Harris Bibbs at (804) 371-7078.

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