Applicants

For-profit corporations, partnerships or proprietorships and non-profit development corporations are eligible for Fund financing.  Applicants must be located in the Vermont counties of Caledonia, Essex, Franklin, Grand Isle, Lamoille or Orleans.

Loan Use

Financing can be used to purchase new or used machinery and equipment and to acquire or renovate real estate.  A small pool of short-term working capital periodically is available to meet special needs, such as inventory or raw materials build-up.  The Fund is prohibited from refinancing existing debt.


Loan Limit

The aggregate amount invested in a single borrower and affiliates is limited to $100,000; the minimum Fund loan is $5,000.  The Fund will require participation by other lenders to ensure its ability to meet Federal leveraging guidelines.