Fairfax Co Microloan

The Fairfax County Microloan Program is a loan program through Community Business Partnership funded by Fairfax County for Fairfax County business owners. It is designed to help clients of the county grow or expand their micro and small businesses.

A typical borrower is a client who fits one or more of the following criteria:

Must have a business in Fairfax County
Starting or Owns a For-Profit Micro-Business
Turned Down for Traditional Financing
Need Working Capital
Need to Purchase Equipment and or Inventory
Need to Hire Personnel
Other Startup Expenses

Loan Program Criteria

Applicant’s business must be in Fairfax County, Virginia.
Minimum $5,000 – Maximum $25,000
Terms: 1 year – 5 years
Interest Rate: Prime + 3-6%
Application Fee: $50
Loan Closing Fee: 3% or Max of $500 (whichever is higher)
Underwriting Fee Applies

Loan Inquiry submission

All prospective borrowers who would like to be considered for this loan program should submit the form below. Once the information submitted in the form is reviewed, prospective borrowers will be invited to submit a full loan application.

Due Diligence

All prospective borrowers to this loan fund will be required to submit the following information to be considered for a loan during the Due Diligence Phase:

Business Plan or Business Summary
Financial Projections
Interim Financials
Use of Funds
Personal Tax Returns (prior 2 years)
Business Tax Returns (prior 2 years IF applicable)
Bank statements (both personal and business – 2 years).
Articles of Incorporation
Copy of Applicable Business Licenses and Permits;
ALL existing businesses must submit past Financial Statements up to three 3 years
Lease agreement (if applicable);
Legal Requirement – All applicants must show proof of legal residency status.
Other documents might be required

After Loan Closing

All loan client through this program must comply with the following guidelines

Minimum Ten (10) hours of Technical (Classroom) Training – Must be completed prior to loan closing
Minimum of Ten (10) hours of one-on-one financial counseling with a CBP BFC Counselor throughout the life of the loan
Submit quarterly status updates.
Submit Annual Business Status Summary and Financial Reports.
Loan recipients will be required to attend semi-annual (twice yearly) peer group meetings to help address business challenges and strategies to support growth while fostering networking and collaboration efforts. Attendees also gets the opportunity to meet with CBP leadership and key guest panelists.

Getting Started – Complete Loan Inquiry Form for more information

Please contact the Business Finance Center through the form below so we can better understand your needs:

The Community Business Partnership is an equal opportunity service provider, lender, and employer.