Financing Your Business
The Central Virginia Small Business Development Center (CV SBDC) assists business owners and aspiring business owners in accessing capital to start, grow, and strengthen their business.
The CV SBDC does not make loans or provide grants.
Most small and mid-sized business owners finance their business through their own capital and through outside debt or equity financing. The CV SBDC can assist the business owner in determining the sources of capital that may be available, the general terms and conditions of the financing, and can review the business owner’s financing proposal prior to approaching the outside lender or investor. Generally, most start-up businesses are funded by the owner’s capital as well as that of family and friends.
To learn more about financing programs for the business owner, visit:
- U.S. Small Business Administration
- Virginia Department of Business Assistance
- Virginia Small Business Financing Authority
- Virginia Economic Development Partnership
- U.S. Department of Commerce
Entrepreneurs in technology, may also want to visit the SBA and
Virginia’s Center for Innovative Technology and the Virginia Piedmont Technology Council.
Entrepreneurs seeking angel investors or venture capital, may also want to visit
Charlottesville Venture Group
Entrepreneurs in agribusiness may also want to visit the U. S. Department of Agriculture .
In obtaining debt financing, the prospective lender would generally consider the following information before granting a loan request:
- The purpose of the loan
- The track record of the business (or, if a start-up, the business idea as expressed in the written business plan).
- Collateral
- Owner’s equity in the business (or investment if it is a start-up business)
- Credit history and personal financial net worth of the owner
- Management ability
- Ability to repay the debt
- Conditions of the economy and/or market area.
To review your personal credit report, visit: