CIC has secured funding through the U.S. Department of Agriculture’s Rural Business Development Grant to create the Piedmont Loan Fund to provide a flexible source of supplemental financing for small businesses operating in, expanding in, or locating to the counties of Culpeper, Orange, Madison, Rappahannock and Fauquier. 

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 Culpeper, Orange, Madison, Rappahannock and Fauquier businesses ONLY.

  • 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

The Piedmont Loan Fund is funded in part by the USDA.

USDA’s Nondiscrimination Statement

In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, staff offices, employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident.
Program information may be made available in languages other than English. Persons with disabilities who require alternative means of communication to obtain program information (e.g., Braille, large print, audiotape, American Sign Language) should contact the responsible Area, agency or staff office; the USDA TARGET Center at (202) 720-2600 (voice and TTY) or the Federal Relay Service at (800) 877-8339. To file a program discrimination complaint, a complainant should complete a form AD-3027, USDA Program Discrimination Complaint Form, which can be obtained online at http:s//www.ocio.usda.gov/document/ad-3027, from any USDA office, by calling (866) 632-9992, or by writing a letter addressed to USDA.
The letter must contain the complainant’s name, address, telephone number, and a written description of the alleged discriminatory action in sufficient detail to inform the Assistant Secretary for Civil Rights (ASCR) about the nature and date of an alleged civil rights violation. The completed AD-3027 form or letter must be submitted to USDA by:
(1) Mail: U.S. Department of Agriculture Office of the Assistant Secretary for Civil Rights 1400 Independence Avenue, SW Washington, D.C. 20250-9410
(2) Fax: (833) 256-1665 or (202) 690-7442
USDA is an equal opportunity provider, employer, and lender.

Interested in additional financing options with CIC?

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