VCC assists small businesses directly through lending services as well as through special programming. Our partnerships with national and local small business supporters can help your business achieve new goals, moving to and beyond the next level.
Goldman Sachs 10,000 Small Businesses
Virginia Community Capital is a proud partner of Goldman Sachs 10,000 Small Businesses. The program is designed to help local small business owners create jobs and economic opportunity through greater access to business education, financial capital, and business support services.
VCC and Goldman Sachs 10,000 Small Businesses Invite Participation in National Education Opportunity
Qualifying small businesses can apply through October 27, 2014
Want to take your small business to the next level? Virginia Community Capital (VCC) is encouraging small business owners across Virginia to participate in the Goldman Sachs 10,000 Small Businesses at Babson College, a national education program which provides qualified small business owners with the time and resources they need to develop customized growth plans for their businesses.
This unique program is delivered directly through Babson College, the curriculum designer for all 10,000 Small Businesses regional sites and the educational institution consistently ranked #1 in Entrepreneurial Education by US News & World Report. The Babson program connects small business owners with a nationally-sourced class of peers for 12 weeks of practical business education delivered through a blend of online and in-person sessions.
10,000 Small Businesses graduates are seeing results, increasing their revenues and creating new jobs in their communities:
- 64%reported an increase in revenues
- 45% reported creating new jobs
- 80% are doing business with each other
You will have the chance to learn from some of the brightest minds in business, explore opportunities to access financial capital, and build a powerful network of professional support. And, if accepted, program tuition will be at no cost to you!
Loan Program Overview
Loan proceeds can be used to cover working capital, purchase equipment and inventory, buy another business, make tenant improvements, and other measures to increase your capacity. Call us to discuss.
Loan amounts will range from $50,000 to $750,000.
Applicants should meet the following criteria:
- Business in operation for at least two years
- Business revenues between $150,000 and $4.0 million in the most recent fiscal year
- Business with a minimum of four employees
- The potential and desire to grow revenues and create jobs in the community
- Applications are accepted on an ongoing basis
- Applications require the following:
- Brief description of the project, including sources and uses of funds
- Corporate Financial Statements or tax returns for previous three years
- Current financial statements (within the last three months)
- Financial statement projections going out three years
- Personal financial statements and tax returns for previous three years of all principals who own more than 10% of company
- A credit release, authorizing VCC to obtain personal and corporate credit reports
- Schedule of outstanding debt
- Copy of mortgage or lease
Wayne Waldrop, Small Business Manager, at 804.793.0986 or email him at firstname.lastname@example.org.
Learn more & view a video about the program at Goldman Sachs 10,000 small businesses.