Summer’s End Means it is Time to Get Down to Business
Fall is the time of year small companies are motivated to get down to business. With the summer behind us, and the holidays fast approaching, it is a great time to do the heavy lifting that propels our companies to the next level.
Often business growth is accompanied by a need for financing and the Lamoille County Revolving Loan Fund provides needed capital as a supplement to commercial loans, or as stand-alone financing for small projects.
Businesses in Lamoille County are eligible to apply for micro loans from $2,500 to $10,000 or small business loans up to $50,000, for a term of 3 to 5 years. The fund is intended to supplement existing or private sources of funding when those funds are limited.
The fund has $500,000 available to lend to small businesses is Stowe, Morristown, Elmore, Wolcott, Hyde Park, Johnson, Jeffersonville, Eden, Waterville and Belvidere. Companies in agriculture, manufacturing, commercial and service businesses that are growth oriented, innovative, technical or create value-added products, can work with the Lamoille Economic Development Corporation on a financing plan to meet the business’s capital needs.
For more information visit, lamoillerevolvingloanfund.com or call 802-888-5640.