Business Loan Programs – McDowell County Economic Development Authority

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Areas Served: McDowell County

McDowell County Economic Development Authority offers three loan programs for businesses in McDowell County, West Virginia.

Micro-Enterprise Loans Program To stimulate business start-ups, foster expansions and increase the retention of job opportunities in McDowell County we offering financing and technical assistance to loan recipients.

The loans will have a minimum amount of $1,000 and a maximum amount of $15,000 and will not exceed a term of 72 months.

Intermediate Re-lending Program To stimulate business start-ups, foster expansions and increase the retention of job opportunities in McDowell County we offer financing and technical assistance to loan recipients.

The loans will have a minimum amount of $25,000 and a maximum amount of $150,000 and will not exceed a term of 180 months.

Revolving Loan Program To stimulate business start-ups, foster expansions and increase the retention of job opportunities in McDowell County we offer financing and technical assistance to loan recipients.

The loans will have a minimum amount of $10,000 and a maximum amount of $50,000 and will not exceed a term of 120 months.

The EDA will fund 50% of the total project.

The remaining 50% of the project should be funded by a bank of other financial institution.

Contact Information
McDowell County Economic Development Authority
Address: 92 McDowell Street
City: Welch
State: West Virginia

Website: http://mcdowelleda.com/?page_id=17

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