Agricultural Disaster Microloan Program
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Agricultural Disaster Microloan Program

Agricultural Disaster Microloan Program

The Agricultural Disaster Microloan Program offered by VSBFA aims to offer assistance to Virginia agricultural and forestry small businesses affected by Hurricane Helene.

Loan Amounts

  • Loans from $5,000 up to $50,000 for disaster-related needs

Eligible Applicants

  • Owner(s) of an agricultural or forestry small business
  • Business was affected by Hurricane Helene
  • Operating within a disaster-designated county or city in Virginia
  • Established before October 1, 2022
  • Have satisfactory credit report
  • In good standing with the State Corporation Commission
  • First come, first served

Fees

  • No fees

Terms and Conditions

  • Fixed term loan up to 36 months with interest only period up to 90 days or
  • Single pay loan up to 120 days

Interest Rates

  • Fixed – 2.5%
  • Veteran owned business – 1.5%

Eligible/Ineligible Uses:

  • YES: Repairs, loss of revenue (temporary), purchase damaged machinery & equipment, and other natural disaster needs (VSBFA approval)
  • NO: Debt refinance, real estate, passive investments, stock purchase, goodwill
Offered in the Virginia counties and cities of: Appomattox, Albemarle, Bedford, Bland, Botetourt, City of Bristol, Buchanan, Buckingham, Carroll, Charlotte, City of Covington, Craig, City of Danville, Dickenson, Floyd, City of Galax, Lee, Giles, Grayson, Greene, Madison, Montgomery, Nelson, City of Norton, Patrick, Pittsylvania, Pulaski, City of Radford, City of Roanoke, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe. If you feel that your business has been impacted by Hurricane Helene, but your locality is not listed, please contact FEMA at 1-800-621-3362.

QUESTIONS?

VSBFA@sbsd.virginia.gov

(804) 786-1049

Natural Disaster Microloan Application
Personal Financial Statement
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