Skip to main content
  1. News
  2. Business & Finance
  3. Industry

Vermont saw a Big Demand for Microloans in 2013.

See also

Nationwide there is growing demand for small business loans. Some of these are financed through Crowd Funding. In Vermont, the Small Business Administration (SBA) has established a strong program of micro loans, working with entrepreneurs to help them start their own businesses. In 2013, the loans granted exceeded the amount given in the previous two years. A total of $688,000 was loaned to a variety of businesses. Each loan was for a six year period, with a maximum amount of $50,000 for each loan. The program produced 120 new jobs in Vermont.

Funding of these loans is unique in that they are processed through three non-profit community based organizations called “intermediaries.” They are the Community Capital of Vermont in Barre, Vermont Community Loan Fund in Montpelier and Northern Community Investment Corp. in St. Johnsbury.

80% of the loans were for start-up companies. If needed, the “intermediaries” will provide technical services for financial management, marketing and inventory management.

Advertisement

News

  • Gaza conflict
    Israel official: Ceasefire and expanding Gaza conflict are both being discussed
    Video
    Video
  • Air Algerie crash
    Conflicting reports about the Air Algerie disappearance begin to emerge
    Top News
  • Arizona execution
    A Senator familiar with torture denounces Joseph Wood's botched execution as such
    US News
  • Ray Rice suspended
    Ravens' running back Ray Rice is suspended for two games for a domestic violence arrest
    Sports
  • Amazon tribe falls ill
    An Amazonian tribe catches influenza after making first contact with the developed world
    Headlines
  • CIA prison in Poland
    Poland is declared guilty of human rights violations for hosting a secret CIA prison
    Video
    Video