lending

Serving Lamoille County’s business community for more than 50 years.

Lamoille County
Revolving Loan Fund

The fund provides loans to small and medium sized businesses who are located in or moving to Lamoille County. Vermont.

The fund is intended to supplement existing or private sources
of funding when those funds are limited.

The purpose of the fund is to provide meaningful economic
benefit to the residents of Lamoille County.

Lending Details

Eligibility

 

  • Available to agricultural, manufacturing, commercial and service businesses, including start-ups and small businesses.
  • Preference given to businesses that exhibit value-added, technology, innovation or growth orientation.
  • Borrowers must be at least 51% US Citizens or legal residents.
  • The business must be located in, or moving to, Lamoille County, Vermont.

Lending Limits

  • Minimum loan is $2,500 and maximum is $50,000 (in special circumstances this may
    be waived).
  • Maximum loan is 25% of total project cost
    (may be waived in certain cases).

Rates and Terms

  • Interest rates for loans from $2,500 to $10,000 are set at WSJ Prime +3%.
  • Interest rates for loans from $10,001 to $50,000 are set at WSJ Prime + 1%.
  • Term shall be from three to five years. For loans greater than $10,001 longer
    amoritzations shall be allowable depending on the useful life of the asset being financed. Balloon payments at the end of five years are preferred.

Loan Loss Reserve

  • For loans from $2,500 to $10,000 the applicant will be charged a Loan Loss Reserve fee of 5% of the approved loan amount, which may be financed.
  • For loans greater than $10,000 the applicant will be charged a Loan Loss Reserve fee of 3% of the approved loan amount, which may be financed.

Business Trainings & Events

LEDC offers its own business workshops and also partners with the Vermont Small Business Development Center to assist businesses with direct access to training opportunities.   

sell online vermont

October 20, 9 AM-Noon

Green Mountain Tech. & Career Center
738 Vermont 15
Hyde Park, VT

LEDC Workshop

Throughout 2021

Check our link for locations statewide. 

smugglers notch resort vermont

November 17th, 9 AM – Noon

Green Mountain Tech. & Career Center
738 Vermont 15
Hyde Park, VT

25,362

Lamoille County Residents

952

Women-Owned Businesses

98

Minority-Owned Businesses

960

Businesses Who Employ Workers

What's happening

Check in here often for the latest news regarding economic development opportunities in Lamoille County.

Lamoille Economic Development Corporation

LEDC

Membership Benefits

We offer our members funding, services, and support and we retain a full-time staff to provide these services. We hope you will take advantage of all LEDC offers.

Community

Meet Our Members

Our members cover a wide array of industries, from hospitality and dining to outdoor sports and more. Get to know our team today!

Lending

Revolving Loan Fund

We provide loans to small and medium sized businesses located in or moving to Lamoille County, Vermont. If your in need of business funding, lets talk.

Your Partner In
Growing The Future.

We hope you will join us in our ongoing mission to promote and grow Lamoille County’s economy. As business owners and community members, we are stronger when we work together.