Is your business negatively affected by COVID-19? Here’s how much you can get from the new Northern Vermont Recovery Loan Fund

What: The Northern Vermont Recovery Loan Fund (NVRLF) is a new loan program serving Vermont businesses and organizations.

Where: Businesses in six Vermont counties, including Franklin County, may be eligible for support.

Why: The loan fund’s creator, Vermont Community Loan Fund, says the fund was developed in response to economic distress and community needs resulting from COVID-19.

How much can your business get? Loan amounts range from $5,000 to $240,000 (interest rate typically will be 0% for the first two years, and then fixed at 3% for up to eight more years).

What can the loan be used for? Real estate and land acquisition; facility construction or improvement; equipment; inventory and working capital.

How to find more information: visit https://www.investinvermont.org/borrowers/business/northern-vermont-recovery-loan-fund.html


Colchester Sun

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