West Virginia small business grants, loans and training funds (2026)

How WVCAP uses West Virginia’s $72.1 million SSBCI allocation

Treasury approved $72.1 million in State Small Business Credit Initiative money for West Virginia. The state puts all of it into three funds, which the West Virginia Jobs Investment Trust (WVJIT) runs as the West Virginia Capital Access Program, or WVCAP ⁠². Treasury’s program list, current as of August 25, 2026, still shows all three funds active, with [email protected] as the contact. The Seed Capital fund is run jointly with the High Technology Foundation ⁠¹.

Scroll the table sideways to see every column.

Interest on all three is “market adjusted for risk.” The figures come from the February 2023 WVCAP flier and Treasury’s summary ⁠²⁠³.

All three are repayable or equity, so none is a grant. Treasury’s summary says the debt funds reach borrowers through community development corporations, regional development agencies and CDFIs, with a focus on low- and moderate-income communities ⁠². The 2023 flier names partners such as Ohio Valley Industrial & Business Development Corp. in Wheeling and Partner Community Capital in Charles Town ⁠³. Seed investments must be matched by private money, and the company must be based in West Virginia with a local workforce ⁠². WVCAP also has a technical assistance fund. It pays for business plans, financial modeling, market research and accounting systems for applicants and portfolio companies with significant potential ⁠³.

WVEDA loans for buildings, equipment and bank insurance

The West Virginia Economic Development Authority lends separately from SSBCI. Its Direct Lending Program funds fixed assets only, with loans from $50,000 to $15,000,000 ⁠⁴. WVEDA and your bank can each finance up to 45% of real estate, and you put in at least 10%. For machinery the shares are 40% each with 20% from you, and for specialized equipment 35% each with 30% from you. Working capital, inventory, trucks and forklifts, and refinancing are not eligible. The program targets manufacturers, distribution centers and technology-based service companies that create or keep jobs ⁠⁴. Owners with 20% or more must guarantee the loan, and you need four years of financial statements ⁠⁴.

The Loan Insurance Program suits smaller firms better. Your bank negotiates the loan, approves it conditionally and then asks WVEDA to insure up to 80% of it, with a maximum of $500,000 insured for up to four years ⁠⁵. Unlike the direct loan, the money can go to inventory and working capital, though not to construction loans or lines of credit. Fees are a $500 application fee, credited at closing, and 1% of the insured portion at closing ⁠⁵.

Training money: Guaranteed Workforce, WV Advance and Recharge West Virginia

The Governor’s Guaranteed Workforce Program comes closest to a grant for an operating business. The state pays for training, but the money goes to the training provider ⁠⁸. The Division’s current rule is that awards cannot exceed $2,000 per trainee. The amount depends on starting wages and benefits, facility location, number of employees and number of trainees. Current West Virginia employers and companies moving in can both apply. The Division reports more than $54 million awarded and nearly 200,000 workers trained since the program began ⁠⁷. The statute behind it sets the new-hire benefit for firms creating at least ten jobs in a year. It also allows up to $10,000 per worker when retraining existing staff saves or adds jobs, with a $4,000 cap if the state’s guarantee leads to retraining ⁠⁸.

WV Advance is listed by the Division as customized job training through the community and technical colleges ⁠⁶. The college is the grantee, so contact its workforce office rather than applying yourself.

Recharge West Virginia is new. House Bill 4004, passed March 14, 2026, lets the Division reimburse a West Virginia employer up to $10,000 per worker and $100,000 per fiscal year for upskilling training ⁠⁹. Payment comes only after the worker earns an industry-recognized credential and gets a raise of at least 25%, to a wage above the state’s average weekly wage. Applications are scored competitively at the close of an application period, and awards depend on the Legislature funding the program in that year ⁠⁹. As of October 20, 2026, the Division’s workforce page did not list Recharge or an application window ⁠⁷. You cannot claim the same training cost under both Recharge and the Guaranteed Workforce Program ⁠⁹.

The two state grants that pay a business: STEP and the SBIR/STTR match

West Virginia STEP reimburses export marketing costs. The current funding year runs October 1, 2026 to September 29, 2027, with $333,333 in total: $250,000 from SBA and $83,333 from the state ⁠¹⁰. A business can receive up to $15,000, at 75% of eligible costs. You need at least a year in business, a product or service with at least 51% U.S. content, registration with the Secretary of State and good standing with the State Tax Department ⁠¹⁰. Eligible costs include foreign trade shows and sales trips, website translation, U.S. Commercial Service fees, CE marking tests and export credit insurance. Passports, visas, entertainment and product development are not eligible. Each activity must be approved before it starts ⁠¹⁰.

The Entrepreneurship and Innovation Investment Fund matches federal SBIR and STTR awards ⁠¹¹. A WV Phase Zero Grant of $2,500 is paid after you submit a Phase I proposal to a federal agency. A Phase I winner can get up to $100,000, half on award and half when it applies for Phase II. A Phase II winner can get up to $100,000 a year for two years. Each type is limited to one award a year and five in a company’s lifetime ⁠¹². The SBDC warns that matches are “typically not a 100% match” and depend on the fund’s balance. Phase Zero requests are taken any month. Phase I and II applications are taken in January and July ⁠¹¹.

West Virginia First: investment capital you cannot apply for directly

Senate Bill 1 (2026) created the West Virginia First Small Business Growth Program. It aims to channel $100 million of growth-stage capital to West Virginia companies through private growth funds certified by the Department of Commerce ⁠¹³. The money arrives as investment, not as a grant. Funds applied by May 26, 2026, and the Department of Commerce set June 25, 2026 to announce approvals. As of this review, the program page lists no certified funds ⁠¹³. Eligible companies have their main operations in the state and fewer than 250 employees when the investment is made. Investments typically run $1 million to $5 million, up to the greater of $7.5 million or 20% of a fund’s capital authority. Businesses do not apply to the state. The page asks them to register their interest with their county economic development authority and to check the program page for contact details of approved investors ⁠¹³.

Free coaching: the WV SBDC statewide and the WV Hive in the south

The WV SBDC is part of the Division of Economic Development. It offers free, confidential coaching to startups and to businesses with fewer than 500 employees, including business plans, financial needs assessments and help finding financing ⁠¹⁴. Its In-Tech program helps inventors with intellectual property, prototypes and SBIR/STTR proposals ⁠¹¹. In southern West Virginia, the New River Gorge Regional Development Authority runs the WV Hive from Beckley and Summersville. It offers one-on-one advising, CO.STARTERS training and help finding funding. Its site says new applications are closed and will reopen in January (304-460-4483) ⁠¹⁵.

Applying for West Virginia help, step by step

1. Book a WV SBDC coach

   Sign up online or call 888-982-7232. Bring a business plan or projections, your last tax returns and the amount you need. The coach can tell you whether WVCAP, WVEDA, a training grant or STEP fits ⁠¹⁴.

2. Line up a senior lender before you ask WVCAP for debt

   WVCAP’s collateral and subordinated funds sit behind a bank or development lender’s loan. Get that lender’s interest first, then email [email protected] together. Startups seeking equity should already have a private investor ready to match ⁠¹⁠².

3. Ask your bank about WVEDA insurance or a direct loan

   For working capital, the bank applies for loan insurance by the first of the month. For buildings or equipment, submit the direct loan application by the 15th for the following month’s board meeting, held on the third Thursday ⁠⁴⁠⁵.

4. Contact the Division about training before you hire

   Call the Division of Economic Development to start a Guaranteed Workforce Program plan. Have your hiring timeline, wages and benefits and the training you need ready ⁠⁷.

5. Register for STEP, then apply for each activity

   Complete the client registration once per funding year and an event application for each trade show or trip. Wait for approval before you book ⁠¹⁰.

6. Request a Phase Zero Grant when you submit to SBIR/STTR

   Send the Phase Zero application with proof that the federal agency received your proposal. After a Phase I or II award, apply for the match in the January or July window ⁠¹¹⁠¹².

7. If you are turned down, adjust and reapply

   A WVCAP or WVEDA decision is a credit decision. Ask what would change it, such as more equity, a different lender or a smaller amount. Repeat STEP applications may be denied or put on a waitlist, so apply early in the funding year ⁠¹⁰.

See the West Virginia overview for other assistance, or compare states on the small business grants hub.