RD301 - Annual Report of the Virginia Small Business Financing Authority


Executive Summary:
During Fiscal Year 2006 the VSBFA committed $5,915,013 through its seven direct loan and credit enhancement programs to 107 small businesses or local Industrial Development Authorities. VSBFA financing enabled total private debt, private equity, and other public debt of $51,860,331, and produced an overall leveraging factor of $9:1 (private to public) during FY ‘06. In addition, the VSBFA facilitated an additional $195 million in private activity bond financings for manufacturers and 501 (c) 3 non-profits. This financing assisted Virginia’s businesses and non-profits in creating or retaining 1,482 jobs. Many of those new jobs occurred in the state’s most highly distressed regions, Southwest and Southside Virginia. Overall, the VSBFA portfolio returned $2.24 in one year for every $1 the Commonwealth has invested. This amount does not include the corporate income tax or local machinery and tool tax revenues that were also generated. Since inception, the VSBFA has assisted small businesses in creating and saving 22,367 jobs.