Revolving Loan Fund
(RLF)

Guiding Your Business
to a Profitable Future

With the USDA-backed Revolving Loan Fund & Technical Assistance Program, we can provide your business with success, opportunity, assistance, and resources to accelerate your growth and help you effectively manage your business to a profitable future.

 REVOLVING LOAN FUND

CVEDC’s revolving loan fund was established to offer an additional local resource to small businesses with the potential to create quality jobs for Vermont workers.

To apply, businesses must meet the following criteria:

  • 10 or fewer employees based in Vermont at time of application

  • At least 51% owned by US citizens

  • Have operated for at least one year and filed a tax return

  • Be located in Washington County or in the towns of Orange, Washington, or Williamstown in Orange County.

    Priority is given to value-added producers & businesses who pay at least 150% of state minimum wage to Vermont Workers.

LOAN TERMS & CONDITIONS

  1. Maximum loan amount is $50,000 to any one borrower

  2. Borrower must have a 10% equity match if financing with CVEDC and another lender—or 25% equity match if only financing with CVEDC

  3. Loans are fixed and based on prime rates, speak with us to determine your fixed rate.

ELIGIBLE LOAN USES

CVEDC loans can be used towards purchasing inventory, equipment, furniture, fixtures, supplies, working capital, business applications, and the purchase of existing commercial real estate. (Note: construction costs are not eligible.)

HOW TO APPLY FOR A LOAN

Please email us to set up a confidential meeting to discuss your situation and assess if a loan with us is the right path for you. At that time, we will go over your needs as well as determine if your business is eligible for any local or federal grants or other financial programs. If you decide to pursue a business loan and we determine your business is a good fit, we will provide you with the application and list of supporting documents needed to present to our loan committee.

You may also download the loan application here in pdf fillable online or printable form.

Once all paperwork is submitted, we build a report and work with the loan committee through the approval process. While we absolutely do our due diligence and our loan committee is very discerning, we genuinely try to make this as smooth and straight-forward as possible for you. We are here to help and the goal of these loans is to support and help your business flourish in our community.

Questions and further conversation are always welcome along every step of the way.

COMPLEMENTARY TECHNICAL ASSISTANCE PROGRAM

Accompanied with every loan is the additional option of grant-funded technical assistance for your business each year. The range is vast and can range from training in software to engineering assessments to developing in-depth strategic marketing plans.

The CVEDC revolving loan fund was originally funded by USDA Rural Development. CVEDC is an equal opportunity lender and service provider. CVEDC and the revolving loan fund are prohibited from discriminating on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, marital or family status.