Loan Products
Microenterprise Loan
$500 - $2,500
- 6-24 months
- As low as 8.5% interest rate
- $25-$50 origination fee
Standard Business Loan
$50,000 - $500,000
- 6-60 months
- As low as 8% interest rate
- 2% – 3% origination fee
VEDC Microloan
$2,500 - $50,000
- 6-60 months
- As low as 7.75% interest rate
- 3% – 5% origination fee
Fund Uses
Business acquisition, expansion, working capital, inventory, equipment, furniture, and fixtures, owner-occupied commercial real estate, tenant improvements, refinancing of existing debt
Terms
Repayment terms will vary based on purpose, and range from 12-60 months. Up to 6-month interest-only phases available depending on fund uses.
Fees
Loan origination fees: 2-3%, plus out-of-pocket costs
Rates
Fixed and variable interest rates starting as low as 7.75% for microloans and small business lending.
Get Working Capital for Your Business
Discover how community-minded lending is changing the small business industry. Apply for a VEDC loan today and join our community.