First Microloan of West Virginia
First Microloan of West Virginia provides SBA microloans from $5,000 to $50,000 to small businesses in Monongalia County and other West Virginia counties.
About this program
First Microloan of West Virginia is an SBA microloan program administered by the Washington County Council on Economic Development and available in Monongalia County, including Morgantown. The program provides commercial loans from $5,000 to $50,000 for entrepreneurs and small businesses starting or expanding operations. Eligible uses include opening or expanding a business, buying inventory, purchasing equipment, and supplementing working capital, with borrowers required to demonstrate job creation or retention.
Eligibility
Entrepreneurs and small businesses in Monongalia County may apply for SBA microloan financing for eligible startup, expansion, inventory, equipment, or working capital needs.
Requirements
- Business must be located in an eligible West Virginia county, including Monongalia County.
- Loan request must be between $5,000 and $50,000.
- Loan proceeds must support eligible business uses such as opening or expanding the business, inventory, equipment, or working capital.