WV First Small Business Growth Program

WV First Small Business Growth Program

Backs licensed growth investors in West Virginia to structure capital support for local small businesses.

⚠ This may reflect a past cycle — verify the current call on the funder's site.

The West Virginia First Small Business Growth Program was established by Senate Bill 1 in the 2026 West Virginia legislative session to incentivise licensed investment funds to deploy capital into West Virginia small businesses. The applicant in this programme is not the small business itself but rather a licensed Rural Business Investment Company (RBIC, under 7 U.S.C. §2009cc) or Small Business Investment Company (SBIC, under 15 U.S.C. §681) that has made at least $100 million in prior investments in U.S. rural counties. The total programme authorises up to $100 million in state tax credits, with an annual allocation cap of $15 million. Tax credits are transferable and refundable, meaning investors in the qualifying growth fund can apply credits against their West Virginia state tax liabilities.

Round 1 accepted applications through May 26, 2026 (now closed). Required submissions included a non-refundable $5,000 application fee payable by physical check to the WV Department of Commerce, a business plan, and an economic impact model prepared using IMPLAN or REMI methodology. Target portfolio companies must be small businesses with fewer than 250 employees and with principal operations located in West Virginia. The WV Tax Division reviews applications and the Department of Commerce administers the programme.

Subsequent rounds are anticipated as the $15 million annual cap is consumed and reallocated. Because this is a tax-credit instrument directed at licensed institutional investors rather than operating companies, small businesses seeking growth capital should engage licensed RBIC or SBIC fund managers who participate in this programme rather than applying directly. Funds that have received programme certification can offer WV state tax credits as a co-investment incentive when deploying capital into qualifying WV portfolio companies.