BCT has funded to our capacity for this program.  Check back in 2024.



Banking On Diversity

A Minority Business Fund Founded by Three Virginia Community Banks

The Banking on Diversity program was created through a partnership of community banks in the Northern Virginia / Shenandoah Valley of Virginia and Eastern Panhandle of West Virginia area that understand the importance and benefit of having a diverse business community.

It has been designed to aid both startup and existing minority-owned small businesses within the sponsoring organizations’ markets. Annually, up to $1,000,000 in interest-free loans will be made available to businesses that meet certain qualification standards. There are two categories of loan programs, one for startups and one for existing businesses.


Program Sponsors

BCT-Bank of Charles Town, Bank of Clarke, and First Bank

Program Guidelines - Overall

  • Only available to For-Profit Businesses
  • Must qualify as a minority-owned business using one of the following two certifications:
  • Annual revenues cannot exceed $1MM (business) or $500K (farms)
  • Business must be located in counties of Clarke (VA), Fauquier (VA), Frederick (VA), Loudoun (VA), Prince William (VA), Shenandoah (VA), Warren (VA), Winchester (VA), Berkeley (WV), Jefferson (WV), Frederick (MD), or Washington (MD)
  • Loan amounts up to $50,000 (existing business) or $10,000 (new business)
  • New startup business must have been in operation for at least 3 months
  • Existing business must have been in operation for more than 2 years
  • Ability to provide documentation as described belowBOD_-AA_male-glasses-iPad


Documentation Requirements

  • Loan Application
  • Complete Minority Owned Business Certification
  • Full description of business and website(if applicable)
  • Current Certificate of Good Standing for the business with Maryland, Virginia, or West Virginia
  • Prior year tax returns (for existing business)
  • Current year proforma and 3-year projections (existing business)
  • Current year proforma and 5-year projections (new startup business) and any market research completed to create the business

BCT has funded to our capacity for this program.