Financing

At CBP’s Business Finance Center, we make a difference in people’s lives by lending to promising small businesses that are unable to secure financing through traditional means.  Our goal: to help small businesses become credit worthy so that they can create sustainable income and jobs.  Our target markets are traditionally underserved and underbanked small businesses as well as low income communities.

We not only provide financing but we also share knowledge though the Community Business Partnership family of business assistance providers.  We require loan clients to attend informative training sessions and regular counseling sessions to help them become even better business owners.

*Community Business Partnership is an ‘Equal Opportunity Lender’ and does not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

Check out our loan programs below to learn more about how we can help your business and community!

NOTE: Please submit ONLY ONE (1) loan inquiry form. Do not submit an inquiry form for each of our loan programs. Thank you!

Our Financing Programs

VA Small Business Resiliency Loan Fund

Community Business Partnership is an approved VA Dept of Housing and Community Development (VA DHCD) Small Business Resiliency lender.  The VA Business Resiliency Loan Program is designed to help the underserved and underbanked entrepreneurs located in key Virginia markets. It is to help revitalize the local economy and build business resiliency.

Who it helps

Startups and established small businesses seeking capital to grow and expand their operations.

Rates, Terms, Costs

  • Amount Maximum: $10,000  – $50,000 per business  (per owner)
  • Interest Rate:  7% – 10% fixed
  • Terms: Up to 6 years
  • Fees:   Closing fee rate: 2% (Fees are financed into the loan);
    • Late payment fee: 5% of outstanding balance;
    • Non sufficient funds fee: $25.
  • Collateral –  security interest in a business asset(s) via VA SCC UCC filing and personal guarantee(s) of owners with 20% or more ownership

Eligibility

  • Must be a resident of Virginia or business must be in Virginia
  • For-Profit businesses with 50 or fewer total employees
  • Be in ‘ACTIVE’ status with VA State Corporation Commission
  • Must be a U.S. Citizen or have legal residency status in the U.S
  • Must have no outstanding Federal or State tax liens
  • Must be a start-up  or growing for-profit small business
  • Must meet type of business eligibility standards at the time of application for the Microloan.
  • Must be be considered small by federal standards.
  • Other eligibility requirements might apply based on your business.
  • Must be located in:
    • VA COUNTIES
      •  Arlington, Fairfax, Frederick, Loudoun Montgomery, Prince George, Prince William, Stafford, and Washington
    • VA CITIES
      • Alexandria, Fairfax, Falls Church, Manassas, and Manassas Park
    • VA TOWNS
      • Clifton, Dumfries Haymarket. Herndon, Leesburg Occoquan, Quantico, Shenandoah, Vienna, and Warrenton

Ineligible Types of Businesses

  • Any nonprofit business;
  • Any financial business primarily engaged in the business of lending;
  • Life Insurance companies;
  • Any businesses located outside of Virginia
  • Any pyramid sale distribution plan;
  • Any business deriving more than one-third of its gross annual revenue from legal gambling activities;
  • Any business engaged in illegal activity;
  • Any private club or business that limits membership for reasons other than capacity;
  • Any businesses principally engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting;
  • Loan packagers earning more than one third of their gross annual revenues from packaging SBA loans;
  • Any business primarily engaged in political or lobbying activities;
  • Any businesses in which an Associate is an undocumented (illegal) alien; or
  • Any business owned or controlled by an applicant or any of its Associates who are presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation by any Federal department or agency.

*Note: Other ineligibility business types might apply. Check with the CBP lending team.

Fund Uses

Borrowers can use the loan funds for the following needs:

  • Commercial rent
  • Payroll expenses
  • Utilities
  • Insurance
  • Purchase of PPE supplies and materials needed
  • Website upgrades to add or improve online ordering
  • Technological and other improvements
  • Other applicable business operating expenses

*These funds should not be used to improve any part of a private home unless that part is specifically dedicated to the funded business.

Ineligible Uses

  • It cannot be used to pay debts to close the business;
  • Non-business related expenses;
  • Purchase real estate;
  • Payment of delinquent taxes including Federal, state, or local payroll taxes, sales taxes, or similar taxes that are required to be collected by the applicant and held in trust on behalf of a Federal, state, or local government entity.
    • IF applicant has an approved payment arrangement with the IRS and is current on the payments in the arrangement, an applicant may be considered for a microloan.

Requirements

Prospective applicants must participate in a brief application intake and pre-submission counseling session. Successful borrowers are required to access business technical assistance support through training classes and 1-on-1 business counseling support for growth and sustainability.

Borrowers are required to adhere to the following requirements:

  • Borrowers are required to attend business counseling sessions.
  • Borrowers must attend quarterly business technical counseling and training
  • Borrowers might be asked to provide financials (quarterly/annually) for the length of their outstanding loan(case-by- case basis)

CBP-SBA Microloan Fund

Community Business Partnership is an approved SBA Intermediary Microloan lender. We are currently lending in the Fairfax County business market. We look forward to expanding our financing market/areas of service in the near future.

Who it helps

Individuals seeking to start a business, startups, and established small businesses seeking capital to grow and expand their operations.

Rates, Terms, Costs

  • Amount Maximum: $1,000  – $50,000 per business  (per owner)
  • Interest Rate:  Fixed rate per SBA terms – as low 7.75% to a high of 9.625%
  • Terms: Up to 6 years
  • Fees:   Closing fee rate: 3% (Fees are financed into the loan);
    • Late payment fee: 5% of outstanding balance;
    • Non sufficient funds fee: $25.

Eligibility

  • Must be a start-up, newly established, or growing for profit small business concern or, a non-profit child care center.
  • Businesses with 50 or fewer total employees
  • Must be established and operating in Fairfax County. (other localities will be added)
  • Existing businesses must have an ‘ACTIVE’ status with State Corporation Commission
  • Must be a U.S. Citizen or have legal residency status.
  • Must meet type of business eligibility standards at the time of application for the Microloan.
  • Must be be considered small under SBA 7(a) business loan size requirements. Reference 13 CFR §121.201 for applicable Size Standards.
  • IF you are applying for more than $20,000 through this program, you must meet  a “no credit elsewhere” test.
  • Other eligibility requirements might apply based on your business.

Ineligible Types of Businesses

  • Any nonprofit business other than a nonprofit childcare center;
  • Any financial business primarily engaged in the business of lending;
  • Life Insurance companies;
  • Any businesses located in a foreign country;
  • Any pyramid sale distribution plan;
  • Any business deriving more than one-third of its gross annual revenue from legal gambling activities;
  • Any business engaged in illegal activity;
  • Any private club or business that limits membership for reasons other than capacity;
  • Government-owned entities (except businesses owned or controlled by a Native American tribe);
  • Any businesses principally engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting;
  • Loan packagers earning more than one third of their gross annual revenues from packaging SBA loans;
  • Any business in which the Intermediary or any of its Associates owns an equity interest;
  • Any business primarily engaged in political or lobbying activities;
  • Any businesses in which an Associate is an undocumented (illegal) alien; or
  • Any business owned or controlled by an applicant or any of its Associates who are presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation by any Federal department or agency.

*Note: Other ineligibility business types might apply. Check with the CBP lending team.

Fund Uses

Borrowers can use the loan funds for the following needs:

  • Purchase of furniture, fixtures, supplies, materials, equipment, and/or
  • Working capital
  • Applicable business operating expenses

*Microloan program funds should not be used to improve any part of a private home unless that part is specifically dedicated to the funded business.

Ineligible Uses

  • It cannot be used to pay debts to close the business;
  • Non-business related expenses;
  • Purchase real estate;
  • Payment of delinquent taxes including Federal, state, or local payroll taxes, sales taxes, or similar taxes that are required to be collected by the applicant and held in trust on behalf of a Federal, state, or local government entity.
    • IF applicant has an approved payment arrangement with the IRS and is current on the payments in the arrangement, an applicant may be considered for a microloan.

Requirements

Prospective applicants must participate in a brief application intake and pre-submission counseling session. Successful borrowers are required to access business technical assistance support through training classes and 1-on-1 business counseling support for growth and sustainability.

Interested in apply for the CBP’s SBA Microloan, please submit a loan inquiry and a CBP lending team member will follow-up with you.

CBP Enterprise Loan Fund

Who it helps

Start ups and established small businesses seeking capital to grow and expand their operations.

Rates, Terms, Costs
  • Amount Maximum: $1,000 to $250,000 per business (no more than one business per borrower or related entity)
  • Interest Rate: Prime Rate + 0% to Prime Rate + 3%
  • Terms: Up to 6 years
  • Fees:  Closing Fee: 2% of the loan amount.
  • Collateral –  security interest in a business asset(s) via SCC UCC filing and personal guarantee(s) of owners with 20% or more ownership
Eligibility
  • Must be a start-up  or growing for-profit small business
  • Must be a for-profit businesses with 50 or fewer total employees
  • Be in ‘ACTIVE’ status with the State Corporation Commission
  • Must be a U.S. Citizen or have legal residency status in the U.S
  • Must have no outstanding Federal or State tax liens
  • Must meet type of business eligibility standards at the time of application for the loan.
  • Must be be considered small by federal standards.
  • Other eligibility requirements might apply based on your business.
  • Must be located:
    • Northern Virginia
      • Counties of:  Arlington, Fairfax,  Loudoun, and Prince William;
      • Cities of: Alexandria, Falls Church, Fairfax City, Manassas, and Manassas Park;
    • Washington, DC
    • Maryland
      • Counties of: Montgomery and Prince George counties

Ineligible Types of Businesses

  • Non-profit businesses
  • Real estate investing
  • Any business engaged in illegal activity;

*Note: Other ineligibility business types might apply. Check with the CBP lending team.

Fund Uses
  • working capital
  • equipment
  • rent and/or utilities for commercial space,
  • inventory.
  • It cannot be used to pay debts to close the business;

*These funds should not be used to improve any part of a private home unless that part is specifically dedicated to the funded business.

Ineligible Uses

  • It cannot be used to pay debts to close the business;
  • Non-business related expenses;
  • Purchase real estate;
  • Payment of delinquent taxes including Federal, state, or local payroll taxes, sales taxes, or similar taxes that are required to be collected by the applicant and held in trust on behalf of a Federal, state, or local government entity.
    • IF applicant has an approved payment arrangement with the IRS and is current on the payments in the arrangement, an applicant may be considered for a microloan.
Requirements

Prospective applicants must participate in a brief application intake and pre-submission counseling session.

 

Fairfax County Microloan Fund

Who it helps

The Fairfax County Small Business Revolving Loan Fund was created by the Fairfax County Supervisors to help small businesses seeking financing that they cannot establish through traditional means.

Eligibility

  • Must be a for-profit
  • Businesses with 50 or fewer total employees (for businesses with multiple locations, the 50-employee limit is the total for all business locations inside or outside of Fairfax County)
  • Must be established and operating in Fairfax County (including the Towns of Herndon, Vienna and Clifton) for one year.

Fund Uses

  • working capital
  • equipment
  • rent and/or utilities for commercial space,
  • inventory.
  • It cannot be used to pay debts to close the business;
  • borrower must agree to maintain the business in Fairfax County for the duration of the loan.

Rates, Terms, Costs

  • Amount Maximum: Up to $30,000 per business (no more than one business per borrower or related entity)
  • Interest Rate:  Prime Rate + 0% to Prime Rate + 3%
  • Terms: Up to 6 years
  • Fees:  UCC Filing: $60; Credit Check Fee: $50;
    • Late payment fee: 5% of outstanding balance;
    • Non sufficient funds fee: $25.

Requirements

Prospective applicants must participate in a brief application intake and pre-submission counseling session.

KP Bailey’s Crossroad/Culmore Loan Fund

Who it helps

Kaiser Permanente (KP) is providing support to neighborhoods in Northern Virginia achieve financial stability. In collaboration with Community Business Partnership (CBP), a revolving loan fund has been created for small businesses in the Bailey’s Crossroads/Culmore neighborhoods of Fairfax County, Virginia. Additional free technical business assistance consisting of workshops and one-on-one counseling will be provided to loan recipients and entrepreneurial residents in those neighborhoods.  This fund is administered by the CBP’s Business Finance Center.

Eligibility

  • Must be a resident of or own a business located in the Bailey’s Crossroads/Culmore neighborhoods.
  • For-Profit businesses with 50 or fewer total employees
  • Must have no outstanding Federal or State tax liens
  • Funding is contingent upon attending at least one training class or counseling session

Rates, Terms, Costs

  • Amount: $5,000-$15,000 per business
  • Interest rate:  Prime+0% to Prime+3%
  • Terms: 6 years
  • Application start date: Currently accepting applications.

Requirements

Anyone with >20% of ownership needs to provide all the required documentation:

  • Loan Application (provided by CBP)
  • Credit Authorization (provided by CBP)
  • Business Summary Form(provided by CBP)
  • Personal Financial Statement from each guarantor (provided by CBP)
  • Current Debt Schedule (business/provided by CBP)
  • Tax Returns (1 year – Personal & Business)
  • Profit & Loss Statement (Current year-to-date)
  • Balance Sheet (Current year-to-date)
  • Contract backlog report (if available)
  • AR/AP aging report (if available)

For an information flyer click here

NOVA Freedom Fund

The NOVA Freedom Fund is designed to help minority/people of color entrepreneurs located in Northern Virginia . It is a revolving loan fund funded by the Freedom Bank Foundation and various donors.

Who it helps

Startups in business at least one (1) year and established minority small businesses seeking capital to grow and expand their operations.

Rates, Terms, Costs

  • Amount: $5,000-$20,000 per business
  • Interest rate:  Prime+0% to Prime + 3%
  • Terms: 6 years
  • Application start date: Currently accepting applications.

Eligibility

  • For-Profit businesses with 50 or fewer total employees;
  • Must be a minority/people of color;
  • Have been in operations for at least one (1) year;
  • Must have no outstanding Federal or State tax liens;
  • Be in ‘ACTIVE’ status with VA State Corporation Commission;
  • Have history of meeting financial obligations
  • Must be a U.S. Citizen or have legal residency status in the U.S
  • Must have no outstanding Federal or State tax liens
  • Must be located in:
    • VIRGINIA
      • Counties of: Arlington, Fairfax, Fauquier, Loudoun, and Prince William
      • Cities of: Alexandria, Fairfax, Falls Church
    • MARYLAND
      • Counties of: Montgomery and Prince George’s
    • DISTRICT OF COLUMBIA

Other Requirements

Anyone with >20% of ownership needs to provide all the required documentation.

 

Helping Hands Loan Fund

Who it helps

The Helping Hands Loan Fund is targeted to help low-to-moderate income individuals attain self-sufficiency through entrepreneurship.

This fund has the potential to help individuals, especially women, develop self-sufficiency through micro-enterprise development, which then helps to boost the local economy. The Helping Hands Loan Program helps borrowers supplement their family income with a small or seasonal income business.

The ability to access small sums of money to jump-start or support small business ventures is vital to the local economy. When a loan fund looks primarily at the borrower and their business or idea, not just their credit, it makes the loan program more viable and helps to create more success stories.

Eligibility

  • Starting or Own a For-Profit Micro-Business or Have a Seasonal Enterprise
  • Lacks Credit or Have Low Credit
  • Turned Down for Traditional Financing
  • Has less than five (5) employees
  • Applicant’s business must be in one of the following regions:  Northern Virginia, District of Columbia, and Maryland (Montgomery and Prince Georges counties).

Fund Uses

  • Need to Purchase Equipment: e.g.: computer, printer, or other specialty equipment
  • Need to Purchase a Small Amount of Inventory
  • Need to Hire Support – Temporary or otherwise
  • Other Startup Expenses

Rates, Terms, Costs

  • Amount Minimum $1,000 – Maximum $5,000
  • Interest Rate  Prime + 1%
  • Terms  1-year – 2 or 3 years
  • Fees:  Loan Closing Fee: 1.5% (fees are financed into the loan);
    • UCC Filing (State – if applicable): $40;
    • Prospective borrowers could qualify for scholarship rates for select CBP training programs (see Scholarship Option below)

Requirements

A potential Helping Hands loan client must follow these requirements:

  • 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 and financial reports.
  • Loan recipients will be required to attend monthly peer group meetings – All loan recipients are required to attend a mandatory monthly meeting with their peers to discuss any challenges they are currently facing. Income for the past month will be discussed and goals for the upcoming month will be set.  This meeting gives borrowers a chance to network with their peers and work together toward finding solutions for themselves and each other.  The chance to network and brainstorm with peers is invaluable to the success of any small business.

Interested in the CBP’s loan programs but don’t know which one to choose?  Not a problem.  Complete the inquiry form below and we’ll place you in a program based on your needs.

Community Business Partnership’s Loan Fund Supporters

The Community Business Partnership is proud to have the support of invaluable and effective allies that help us meet our mission.

                        

                                             

CBP Affiliations


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

“As an incubator client, CBP helped me successfully start my cybersecurity and IT solutions firm, SecureTech360. I found the staff helpful, knowledgable, and encouraging.  I recommend them highly!”


Quiana Gainey, CEO, SecureTech360 (EDWOSB, SDVOSB, SWAM)
Community Business Partnership of Springfield, VA