Going Into Business in West Virginia - West Virginia Department of ...

Financing Your Business
For more information, contact:
Natural Capital Investment Fund
Business Lender
Cell (304) 228-3121
Fax: (304) 870-2205
Local Financing Programs
Some local and regional development organizations offer financial assistance to small businesses,
particularly if the operation will result in job creation, retention or revitalization of the community.
Additionally, county and local governments may offer loan programs for business owners. Contact your
local Chamber of Commerce or government offices for information on the scope of services available in
your community.
The Small Business Innovation Research (SBIR) and the Small Business Technology Transfer
(STTR) programs are federal initiatives that provide over $1 billion in research and development grants
and contracts each year to small businesses to develop new products and services based on advanced
technologies. These programs provide excellent opportunities to nurture the development of innovative
businesses in West Virginia.
The SBDC serves as the centralized source for information and technical assistance regarding the SBIR/
STTR program for West Virginia-based small technology businesses and entrepreneurs.
In an effort to propel technologies, teams and companies that have a proven track record and a
technology or innovation with a high degree of potential, the SBDC has initiated an Award Matching
Program in conjunction with the federal SBIR and STTR efforts. If a West Virginia-based small business
has been successful at Phase I or Phase II the SBDC may be able to match a percentage of the award. To
learn more about this funding opportunity, visit the SBDC Web site at wvsbdc.wvcommerce.org. The
SBDC also works with other providers of technical and financial assistance across the state.
Grants
The truth about federal grants: Right off the top — The U.S. government currently does not provide
grants for starting or expanding a small business. However, the government does offer plenty of free
help planning how to start or improve your business and in securing Small Business Administrationbacked
small business loans.
Most federal grants are awarded to organizations planning major projects of benefit to their community.
For example, a neighborhood street paving project; a statewide program to retrain displaced workers; or
a project to attract new businesses to a depressed downtown area.
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