Charleston, W.Va. – The West Virginia Capital Access Program (WVCAP) approved a loan of $76,654 for Stone Tower Joe, LLC., a coffee roaster in Monongalia County.
The WVCAP funding is expected to allow Stone Tower Joe to create 26 jobs.
Stone Tower Joe began their business in 2015 with the opening of a coffee shop in Fairmont, West Virginia. The company has expanded to additional locations in Buckhannon and Bridgeport.
The funding will enable Stone Tower Joe to open a fourth location in Morgantown.
“WVCAP allows West Virginia small businesses to expand right here in the Mountain State by leveraging federal and private funds to help companies like Stone Tower Joe continue to grow,” said Andy Zulauf, Executive Director at the West Virginia Jobs Investment Trust (WVJIT). “Through this program, West Virginians can easily access the financial resources they need to take their business to the next level.”
WVCAP provides West Virginia small businesses with debt or equity capital to expand and create jobs. WVCAP assists credit-worthy companies that may not fit traditional lending models. WVCAP is administered by WVJIT.
For more information, to apply for funds, contact the West Virginia Jobs Investment Trust at wvjit.wv.gov.
About the West Virginia Jobs Investment Trust
West Virginia Jobs Investment Trust (JIT) is a public venture capital fund created to develop, promote and expand West Virginia’s economy by making investment funds available to eligible businesses, thus stimulating economic growth and providing or retaining jobs within the State. JIT invests in early-stage, later-stage and mature small companies that wish to expand. Opportunities to create a sign
ificant number of jobs while maintaining economic balance are favorably viewed.