A partnership of Fluvanna County and CIC, the Fluvanna County Loan Fund Program was created to provide a flexible source of supplemental financing for businesses operating in, expanding in, or locating to Fluvanna County. 

Please note: This is a loan, NOT a grant. Businesses should expect to pay back the loan.

Who is eligible?

• Existing businesses with 6 months of revenue history
• New business startups or businesses with less than 6 months of revenue are eligible to apply if they are a graduate of CIC’s Entrepreneur Workshop or have maintained a long-term, professional relationship with an entrepreneur support organization such as SBDC, SCORE, CIC, etc.

Loan capital is restricted to Fluvanna County businesses ONLY

Terms:

• Loans up to $50,000
• Terms range 1-5 years
• Our starting interest rate is currently 9.75%. Discounts to the starting rate are available based on the following:
  • Being a graduate of our Entrepreneur Workshop (3 percentage points)
  • Being a long term client of the SBDC (2 percentage points)
  • Being a long term client of SCORE (1 percentage points)
  • Having a co-signer on the loan (1 percentage point)
• Closing fees will be $200 or 2% of the loan amount, as determined by CIC
• Personal guarantees required on all loans

Eligible Uses of Loan Funds:

• Operating Capital
• Land or Building Acquisition
• New Construction
• Property Rehabilitation or Improvements
• Purchase of Equipment, Supplies, and Materials
• Inventory for Resale

Application Process & Required Documentation

All loan application materials will be submitted via Lenderfit. To apply:

1. Email our Financing Team or call (434) 218-3481 to schedule a consultation
2. You’ll receive an email invitation to begin your application in Lenderfit within 1 business day
3. In Lenderfit:
   1. Complete your loan application
   2. The following documentation will be needed for a complete application:
      • Business Plan and Cash Flow Projections
      • Existing businesses should submit financial statements and business bank statements
      • Last two years of tax returns
      • Personal Bank Statements
   3. Schedule phone call/site visit with CIC staff
4. Complete applications submitted by the first of the month should have a decision within 4-5 weeks