Incentives / Financing
Contact the Office of Economic Development for additional information on incentive programs and available financing for business relocation, start-up, and expansion.
Below is a partial list of available financing and incentive programs provided by local, state, and federal entities.
Local Sources
Industrial Revenue Bond Financing
The City of Winchester Economic Development Authority has the legislative authority to issue private activity tax-exempt bonds to finance the acquisition of land, building, and new capital equipment for certain businesses and nonprofit organizations located in the City of Winchester. These Industrial Revenue Bonds are available to 501(c)(3) nonprofit organizations and small manufacturing businesses that meet the qualifications and restrictions defined in the U.S. Tax Code. Contact Jim Deskins at (540) 722-7577 for more information.
State Resources
Center for Innovative Technology
Virginia's Center for Innovative Technology (CIT) is a state-chartered nonprofit corporation that accelerates Virginia's next generation of technology and technology companies.
CIT provides the only statewide suite of programs and services for technology researchers, technology entrepreneurs and small technology businesses in all regions of the Commonwealth. For more information visit www.cit.org
Business Finance Group
Business Finance Group is a non-profit lender financing commercial real estate (and long term equipment) for small businesses in the Mid-Atlantic region. The Business Finance Group offers 504 Loans with favorable fixed rates, a low down payment, and a 20 year term to assist in business expansion efforts. For more information visit www.virginiaasset.org
Virginia Small Business Financing Authority
The Virginia Small Business Financing Authority (VSBFA) stands ready to assist those businesses and non-profit organizations looking to grow in Virginia, the local economic development authorities and municipalities needing debt financing to attract businesses into their jurisdictions, as well as bankers seeking to find creative ways in which to make that next loan to a small business. The VSBFA is a political subdivision of the Commonwealth of Virginia whose mission is to promote Virginia businesses by increasing access to capital through the creative application of public and private financing, thereby maximizing employment opportunities and investment throughout the Commonwealth. In order for the VSBFA to offer a business financing assistance, the business must meet VSBFA’s credit standards and meet the definition of a small business as defined in the Code of Virginia. For more information visit www.dba.state.va.us/financing
Federal Resources
U.S. Small Business Administration
Created in 1953, the U.S. Small Business Administration (SBA) is the only independent agency of the federal government with the sole purpose of assisting small businesses to start, grow, and prosper. Through an extensive network of SBA resources and partnerships with other public and private organizations, SBA is here to help the small business owner. For more information visit www.sbaonline.sba.gov