Submission Process

Please contact the Small Business Development Specialist at 336-747-7474 or to make an appointment to discuss the loan process.

City staff will review the guidelines established for the program, as well as provide feedback and comments on your business plan and supporting items needed for loan processing.


Be sure to include the entire package of items to be reviewed; see the items listing page. Incomplete packages cannot be processed.

Loan Package Review

The Development Office staff will review your business plan and tax returns, analyze your financial statements and business performance to determine if you have sufficient cash flow to meet the loan’s obligations. The staff will then prepare a summary of your loan request and send it along with the full loan package to the members of the Economic Development Revolving Loan Committee.

All Information submitted to the Development Office is public information. Completed loan packages received two weeks prior to the loan committee’s meeting will be placed on the next agenda. The loan committee considers loan requests once a month. A schedule is available through the Development Office.

Loan Approved or Denied

The loan committee will make the loan decision based on the information provided. You may be requested to be present during the committee’s meeting. The Development Office staff will inform you in writing of the loan committee’s decision. Terms and conditions apply.

At its discretion, the loan committee may impose additional terms and conditions necessary to strengthen the loan or to secure the city’s financial interest.

Distributed Funds

Once approved, loan funds are distributed on a reimbursable basis via valid paid receipt.

Appeal of Loan Denials

You have the right to request an appeal of the loan committee´s decision before the Mayor and the City Council. To do so, you must submit a written request for appeal to the Development Office. The Finance Committee of the Winston-Salem City Council may, at its discretion, formally consider such a request.