5 FOR 5 LOAN PROGRAM

Start or Grow with a Loan

The Town of Bedford wants your business! To help you start or grow in the Town, we offer a 5-year loan at 2% interest. If you can use $5,000 or more to keep your job or add a new job, contact us today to schedule a consultation.

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ARE YOU ELIGIBLE?

  • Is your business located in Town of Bedford?

  • Do you have 20 or fewer employees?

  • Are you interested in creating or saving at least one job?

If you answered yes to all 3 of these questions then you are eligible for a “5 For 5” small business loan.
Please note that all businesses are eligible TO APPLY, but funds are limited and will be awarded based on qualifications.

 

INFORMATION REQUIRED

  1. Completed and signed application
    – Loan Request Worksheet
    – Personal Financial Statements
    – Credit Authorization Form
    – Balance Sheet, Profit & Loss Statement (AP & AR for current 90 day period)
    – Copy of Most Recent Tax Return
    – Disclosure Statement(s)
    – Business Lease/Deed

  2. Current three-year business plan and management info (assistance available)

  3. Personal Credit Report (as appropriate)

  4. Three business references

  5. Copy of collateral offered & current market value (title, deed, security paper, etc)

  6. Statement indicating what the loan will be used for.

See attached document, “5 For 5 Small Business Loan Pool Program Design" for additional information on the loan application process.

 

(540) 587-6006

215 E Main St
Bedford, VA 24523
USA

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