West Virginia First Small Business Growth Program
West Virginia Division of Economic Development (WVDED)
$1M–$7.5M per company
$100M WV small business growth capital, 2026
The WV First Small Business Growth Program, passed during the 2026 legislative session, makes $100 million in growth-stage capital available to West Virginia small businesses through certified rural business investment companies (RBICs) and small business investment companies (SBICs). Investments of $1M–$7.5M per company are delivered as debt or equity. Businesses register interest with county economic development authorities; certified investors deploy capital independently.
- Funding type
- Loan
- Level
- State
- Amount range
- $1,000,000 – $7,500,000
- Realistic amount
- Most investments are expected to be $1M–$5M per company. The program targets growth-stage businesses needing scaling cap…
- Deadline
- Rolling — investor certification deadline was May 26, 2026. Certified investors will seek eligible WV businesses independently. Register interest with your county economic development authority.
- Status
- active
- States
- WV
- Payment model
- advance
Who qualifies
- Principal operations must be in West Virginia
- Fewer than 250 employees at the time of investment
- Capital must be used for scaling, expansion, or bridging cash flow gaps
- No industry or geographic restrictions within West Virginia
- Businesses must register interest with their county economic development authority to be found by certified investors
Hard requirements
- Must be incorporated
- Location restriction: West Virginia
- Max 249 employees
What it covers
Eligible expenses
- Business scaling activities (new product lines, new markets)
- Equipment and capital asset acquisition
- Expansion of facilities or operations
- Working capital for growth-stage cash flow gaps
- Hiring and workforce expansion
Ineligible expenses
- Personal expenses
- Refinancing of existing debt (without growth component)
- Speculative investments unrelated to the business
How to apply
-
1
Register interest with county economic development authority
Contact your county economic development authority (EDA) or the West Virginia Division of Economic Development at +1-304-558-2234 to register interest in WV First capital. Certified investors will use county registrations to identify investment-ready businesses.
~3 hrs
-
2
Prepare investor-ready materials
Develop a business plan, revenue projections, capital use plan, and financial statements. Certified investors conduct their own due diligence — you need investor-quality materials, not a grant application.
~20 hrs
-
3
Engage with certified investor
Certified investors (licensed RBICs or SBICs with $100M+ rural prior investment) will contact registered businesses that match their investment criteria. Negotiate investment terms — debt or equity, rate, covenants.
~10 hrs
-
4
Close investment and deploy capital
Execute investment agreement. Certified investors deploy capital within the required timeline (95 days from certification). Use funds for approved scaling, expansion, or bridging purposes.
~8 hrs
This program is investor-led, not grant-led — the state certifies investment funds that then deploy capital independently. Your job is to be visible in the West Virginia ecosystem: register with your county EDA, connect with WVDED, and be investment-ready before investors start deploying.
Deadline & timing
The May 26, 2026 deadline was for INVESTOR certification applications. Certified investors receive capital authority within 90 days of certification and must show evidence of cash receipt within 95 days. Small businesses do not apply directly — they register interest with county economic development authorities and certified investors seek them out.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.