Business Loans in Virginia

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Virginia is a diverse economy that includes local and federal government agencies, military, farming, tourism, and high technology. Virginia has the highest concentration of technology workers of any state and the fourth-highest number of technology workers. Virginia is considered one of the top supporters of small business ownership efforts.

How Do I Get a Virginia Small Business Loan?

If you’re a small business owner in Virginia, you have many options available to you when it comes to securing funding. You can apply for a traditional bank loan, explore government-backed loans, or look into alternative lenders.

Dealing with a local bank or credit union can be a daunting task as they are conservative when it comes to lending. A local bank or credit union must protect all there depositors so business lending is not a priority.

AdvancePoint Capital offers Virginia small business loans through our small business funding network of products and lenders. We understand the unique challenges and opportunities that Virginia businesses face, and we’re here to help you secure the funding you need to grow your business with lower interest rates .

We offer loans of up to $1,000,000, with flexible terms and low interest rates. Our streamlined process makes it easy to get the small business financing you need, when you need it. For more information, contact AdvancePoint Capital today.

The 9 Best Funding Options for Virginia Small Businesses

small business loan

Small Business Loans in Virginia

Many small businesses request a small business loan. A Small business loan is a term loan with a fixed loan amount, fixed rate, fixed term and fixed payments.

SBA Loan

SBA Loans in Virginia

SBA loans are long term loans with attractive rates and terms. The Small Business Administration sets the guidelines and loan programs for approved SBA lenders and services and in exchange, offers a guarantee to those lenders to encourage lending. SBA loans are highly sought out by small business owners, but qualifications and process are challenging.

Merchant Cash Advance

Merchant Cash Advance in Virginia

A Merchant cash advance is a purchase of future sales agreement and not a loan. The advance is based on current sales volumes and repaid by the funder taking a fixed percentage of future credit card processing until paid back in full. Business owners seek this product when traditional business funding is not an option.

Small Business Cash Advance

Business Cash Advance in Virginia

A Business cash advance is not a loan, but an advance of future sales at a discount to the funder. An advance is popular with business owners who cannot get traditional business funding.

Business Line of Credit

Business Line of Credit in Virginia

A business credit line is a revolving line of credit with a credit limit. Business owners can draw funds on demand up to the limit without going through an application process every time they draw to satisfy there business needs.

Equipment Financing

Equipment Leases and Loans for Virginia

For businesses that require equipment to operate there business, equipment loans are a great solution that uses the equipment as collateral to offer long repayment periods, typically 3 to 5 years to repay.

Invoice Financing

Invoice Financing in Virginia

Invoice financing, also known as Invoice factoring, is for businesses that regularly invoice there customers for products and/or services rendered and want to get an advance off of the unpaid invoice before terms are due. This product accelerates the access to cash flow for a nominal fee.

Short-Term Business Loan

Short Term Small Business Loans in Virginia

Short term business loans are shorter term in nature, typically 6 to 18 months. This product is designed for businesses who would not qualify for more traditional financing yet reduces the risk for lenders.

Long Term Business Loans

Long Term Business Loans for Virginia

Long Term Business Loans for Virginia

Businesses who need capital for large expansions turn to long term business loans to spread the cost of funding, yet maintaining favorable terms and affordable payments.

virginia small business resource guide

U.S. Small Business Administration

How to Grow Your Business in Virginia

View the Virginia Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.

U.S. (SBA) U.S. Small Business Administration Virginia District Office

washington dc resource guide

Grow Your Business in the Washington Metropolitan Area

View the Washington D.C. Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting

U.S. (SBA) U.S. Small Business Administration Washington Metropolitan Area District Office

Find local assistance

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Why Do Virginia Small Business Owners Need Financing?

Some important business needs;

    • Working capital
    • Equipment
    • Inventory
    • Construction
    • Business plan expansion (capital for growth)
    • Financial support
    • Special projects
    • Cash flow shortages
    • Website design
    • Emergencies
    • Advertising and marketing
    • Employees (jobs created)
    • Any legitimate purpose, project, or use

    Initiatives, Programs, and Small Business Grants for Small Businesses: Additional Resources, Support, and Information

    The Virginia Small Business Financing Authority has the Small Business Investment Grant Fund

    Virginia Economic Development Loan Fund- A companion loan for fixed asset funding needs designing to fill the financing gap between the bank’s loan and private equity. In these transactions, the client has two loans, one from the bank and one from the VSBFA that provides cash collateral support for a bank's loan. Where warranted, the VSBFA will consider being in a subordinate position to the bank and can sometimes offer more flexible terms to help temporary cash flow needs and promote economic development.

    Virginia SWaM Business Loan Fund- This is a direct loan from the VSBFA to the business client that does not require a bank’s participation in the transaction. It is an ideal tool for bankers who are faced with funding requests for minimal amounts where the bank would prefer to refer the client to an alternative source of funds.

    Virginia Child Care Financing Program- This is a direct loan from the VSBFA to a child care center or a family home provider. Bank participation is not required, although the bank will frequently provide financing for the center’s land and building. The VSBFA can give a loan for the other necessary items the center needs, such as cots, fencing, playground equipment, buses, etc.

    Virginia SSBCI Cash Collateral Program- Most typically used in those situations where small businesses have demonstrated ability to cash flow the debt, but the collateral coverage is insufficient for the bank’s typical underwriting standards. This program can be used for lines of credit or loans.

    Virginia Loan Guarantee Program- This is a traditional deficiency guarantee of a bank loan. It can be used for credit lines or loans any time the bank believes it needs additional support to approve a funding request for small businesses.

    The Virginia Department of Small Business and Supplier Diversity (SBSD)- The mission of SBSD is to enhance growth opportunities for Virginia’s small businesses to prosper through increased revenue and job creation thereby raising the standard of living for all Virginians. The SBSD has four Divisions including; Business Certifications, Business Development and Outreach Services, Virginia Small Business Financing Authority and SBSD Agency Administration.

    Virginia Community Capital (VCC) – Small Business Lending division works with for-profit and non-profit businesses as well as municipalities around the Commonwealth to find creative ways to support growth development.

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    Frequently Asked Questions

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