What is the MBC Revolving Loan Fund?

The Montgomery-Blacksburg-Christiansburg Development Corporation (MBC) is a local, not-for-profit Community Development Corporation created to assist and encourage the expansion and diversification of Montgomery County's employment base. The MBC does this by providing loans to small businesses on terms that are not always available through traditional lending institutions. 

The MBC Revolving Loan Fund is meant to supplement, not replace, private sector investment and loans from local banks. An MBC loan serves to bridge the gap between private investment and traditional borrowing.

Over the last 30 years, the MBC Revolving Loan Fund has provided 40 loans to 26 different Montgomery County businesses, totaling $1,810,066 in loans. 

Eligibility and Loan Terms

To apply, businesses must be located within Montgomery County (including the two incorporated towns of Blacksburg and Christiansburg), and ideally have been in business for at least two years.

The loan period for an MBC loan is short-term, usually five years or less, and typical loans are between $50,000 to $75,000 depending on the need of the business and the availability of funds.

Repayment terms require monthly or quarterly payments of principal and interest. However, the terms and conditions are negotiated on a case by case basis, and interest rates are flexible and typically below market rates, making and MBC loan an appealing option for small businesses. 

Interested in Applying?

If you believe your business would benefit from an MBC loan, find out more about qualifications and get started on your application by contacting:

Brenda Rigney
Montgomery County Economic Development
Project Manager
Email
(540) 382-5732