Sustainability Loan Fund Guidelines
APPLICANT QUALIFICATIONS
1. Must be an existing for-profit business within the geographic area served by one of the three
funding organizations:
a. Downtown Wytheville Incorporated (Downtown B2-DT district)
b. Joint Industrial Development Authority of Wythe County, Wytheville, and Rural Retreat
(all of Wythe County and both towns)
c. Wytheville-Wythe-Bland Chamber of Commerce (throughout Wythe and Bland Counties)
2. Business must satisfactorily complete application and submit necessary attachments.
3. Financials must be provided for the first quarter of 2020 including cash flow, profit & loss, balance
sheet.
4. Business must have or be pursuing online and/or social media presence with accurate information
presented.
5. Business must have articulable economic impact from COVID-19 public health situation.
6. Business must certify it has no outstanding tax debts to any locality in the service region.
7. Application does not guarantee approval.
LOAN SPECIFICS
1. Each business will be eligible for up to $2000.00.
2. The loan term is 24 months from date of closing.
3. The interest rate for this loan is 0%.
4. Quarterly payments will begin on a date agreed-to in the loan agreement and as illustrated in a
provided loan amortization.
5. Each loan will require an agreement between the business and the fiscal agent for that loan.
6. Loans subject to any special conditions in loan agreement, including but not limited to provision
of financials, verification of expenditures, etc.
7. Funds are available on a first-come first-served basis.
8. Loans are made to businesses only, not individuals.
ACCEPTABLE USES
1. Operating capital including rent, payroll, inventory purchase, marketing, and similar.
UNACCEPTABLE USES
1. Personal use, savings or investment, purchase of non-essential items, repayment of any
outstanding debt, loan, or other burden.
Please contact a participating partner with questions or for assistance with the application.
