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Faith Mountain Company is building a new 10,000 square foot warehouse, which will also eventually serve as its retail outlet, west of Washington on U.S. 211.
The $400,000 project is possible because of an innovative financing arrangement between owners Martin and Cheri Woodard, the Marathon Bank, and Virginia Asset Financing Corporation. It is the first of its kind in Rappahannock County.
According to a spokesman for Va. Asset Financing Corp., the “504 Program” offers “attractive financing to growing businesses which will create jobs for the local economy as a result of its plant expansion.”
The program offers 40 percent of the financing through Va. Asset Corp., with a fixed rate note amortized over 20 years. An independent bank or savings and loan provides another 50 percent of the capital, with the business chipping in the final 10 percent of the project’s funding.
Faith Mountain Company was started by the Woodards in 1977 as a strictly retail store featuring herbs, handmade dried floral arrangements and natural foods. The small company operated from a converted private home on Sperryville’s Main St.
From that humble beginning Faith Mountain Company has become an internationally recognized mail-order firm as well. It specializes in products which enhance the “country living” lifestyle, Mrs. Woodard said. Many of the items
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