The New River Valley Development Corporation board unanimously approved a $20,000 loan from the NRVDC revolving loan fund to Michelle Goodman for her Sweet & Savory Donuts and Bagels LLC. This new restaurant in Radford will offer smoothies, lunch items, and of course donuts and bagels. The signature item is fresh-made donuts with a selection of toppings made to order. Sweet & Savory Donuts and Bagels is located at 1026 Clement St., Suite A in Radford.
The loan from the NRVDC revolving loan fund helped the company to purchase the kitchen equipment and inventory needed to get the business up and running in time for the university school year and fall festivals in Radford. The NRVDC board would like to congratulate Sweet & Savory Donuts and Bagels on their successful loan application, and wishes them great success in their new business!
The NRVDC revolving loan fund still has over $30,000 available to lend to qualified small businesses. The loan fund helps small businesses to buy equipment, upgrade facilities, or secure working capital to expand their operations. Typical loans range from $10,000 to $20,000 or more, depending on the needs of the business and the type of collateral being offered. Loan terms are flexible, with favorable interest rates.
If you know of a small business that needs low-cost financing to grow, tell them about the NRVDC loan fund! For more information, please visit the following website (https://www.nrvdc.org/dcfinance.html ), or contact Patrick O’Brien, pobrien@nrvrc.org or 540-639-9313 x 206 to discuss loan options and obtain an application package.