Whether starting a new business, or growing an existing one, the place to start when seeking financing is a commercial lender. They have the staff and expertise to review the financial needs, assess risk and provide competent and confidential advice about borrowing for real estate, leasehold improvements, inventory, machinery and equipment or working capital. They are knowledgeable about a wide range of programs and enhancements that increase access to capital, and if necessary, look for ways to partner with alternative lenders such as the Vermont Economic Development Authority, the U.S. Small Business Administration or other lending entities that just might make the deal bankable. It's important for entrepreneurs to know that although banks are in the business of "selling" money, they are also seeking new customers or working hard to retain existing ones and can bring several other business tools that are critical to one's success in today's business enviroment. The have a vested interest in not only the success of every business but of growing management's net worth as they examine all options on behalf of the borrower.
Within the State and the region, there are alternative lenders who exist for the primary purpose of lending to stimulate the economy and create employment. In many cases, they partner with commercial lenders, and in others they make direct loans to small businesses and start-ups. Many businesses exist because of the additional risks these enties are willing to take.
Community Capital of Vermont
Offers financing and other assistance to businesses in central Vermont that do not yet meet all the requirements for traditional bank financing.
107 N. Main Street
USDA Business & Industry Direct Loan Program Gap financing for real estate, machinery, and equipment purchases.
Vermont Community Loan Fund
Financing for real estate, fixed assets, operating capital, line of credit, purchase order financing, and debt restructuring.
Vermont Economic Development Authority (VEDA)/Vermont Job Start
VEDA manages a wide range of low-cost lending programs for small and medium sized businesses. Lending is customized to best fit a business’s particular needs. Vt Job Start loans can be used to start, strengthen or expand small businesses. Financing uses include equipment, inventory and operating capital.