Wise County Economic Prosperity

Opportunity Fund

A COVID-19 Small Business Loan Assistance Program

 

Communities across the country are experiencing unprecedented economic devastation as efforts to combat the COVID-19 pandemic continue throughout Wise County, the State of Virginia, and the nation. Small, locally owned businesses – the lifeblood of our communities – have especially been hit hard by the economic fallout from efforts to combat the ongoing global health crisis.

 

In response, Wise County, in partnership with the Virginia Coalfield Economic Development Authority (VCEDA), the Wise County Board of Supervisors, Lenowisco PDC and the Wise County IDA is pleased to announce the development of the “Wise County Economic Prosperity Opportunity Fund”. This small business loan program is being implemented to help Wise County small businesses bridge the gap between current finances and anticipated federal and state funding assistance.

 

Loan details include:

  1. Maximum of $5,000 loan amount

  2. 0% interest for a term of 3 years

  3. No payments due for 6 months from loan origination

 

To qualify a business must:

  1. Be located in Wise County or one of its localities with a valid E-911 address

  2. Be located in a “brick & mortar” location (no home-based businesses)

  3. Be current on all local taxes

  4. Utilize funds for working capital and operating expenses only (payroll, utilities, etc.)

  5. Complete the application packet

 

The goal of this program is to support local, small businesses and their employees during these trying times. By doing so, the program hopes to keep our small business community open, successful and prepared for better times to come.

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