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At present, the EDA Emergency Loan Fund has dispersed all available funds. We are investigating the possibility of adding additional capital so we can assist more companies. We encourage you to complete the application and submit in case we are able to provide additional loans, and to also apply to SCCF or the SBA, and check out other regional assistance.

In response to the current COVID-19 health crisis, the Waynesboro Economic Development Authority has enacted emergency loan fund criteria and application process to aid small businesses who might be affected. Please review qualifications and process below. To apply complete application and email to Greg Hitchin.

Availability
o Maximum $5,000/business
o Limited funding is available
o Not available to businesses that receive a SBA Disaster Loan and/or Community Foundation Grant, or other similar loan or grant

Qualifications
o Business as defined by having a Waynesboro Business license or having paid tax (real estate, M&T, BPP)
o Business must have been operational for at least six months
o Physical location within City Limits
o Demonstrated affected by COVID 19
o Maximum five FTE
o Funds can be used for payroll or building related expenses (rent, electric, water)

Repayment
o Zero percent interest
o Balance amortized over three years
o Repayment begins thirty days after state/local state of emergency is over

Application Process
o Complete online application and email to Greg Hitchin at HitchinGE@ci.waynesboro.va.us
o Emergency Loan agreement signed electronically
o Standard Loan repayment agreement signed in person after state of emergency
o Applications reviewed by loan committee within two business days of receipt
o Checks dispersed within one business day after approval

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