Winchester EDA establishes Disaster Relief Funding Program
According to a news release, small businesses located in Winchester can apply for a loan of up to $5,000 with a loan term of up to five years; loan terms and conditions are structured on the basis of need and ability to repay. Loan payments will not be required for the first six months after the loan is disbursed. There is also a zero percent interest rate for the first 24 months of the loan with a two percent interest rate to be applied to the remaining additional 36 months of the loan term. The EDA will reevaluate this interest rate policy after the first 18 months of the program.
To qualify, businesses must:
- Operate at a full-time location within the City of Winchester
- Generate under $2.5 million in annual revenue and employ under 25 workers
- Operate within the City of Winchester for at least six months before the date of the application
Application forms are available here and can be submitted via mail or email (preferred) to:
Winchester Economic Development Services Office
33 East Boscawen Street, Suite 100
Winchester, Virginia 22601
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