Lamoille County
Revolving Loan Fund

Helping our economy grow by developing tools and providing business assistance is the core of Vermont’s economic development plan. Putting this assistance together to benefit low-to-moderate income residents is what Lamoille Economic Development Corporation (LEDC) has done with the Lamoille County Revolving Loan Fund.

Growing businesses often need financing beyond what their primary bank is able to lend them. Small businesses may need loans too small for banks to find profitable. The fund is intended to supplement existing or private sources of funding for small and medium sized businesses whose economic activity has a direct benefit to low-to-moderate income residents. 

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



  • 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.

Banks & Alternative Lenders

Vermont’s banks, vital resources for the business community, help stimulate local businesses by working with our state strategic partners and with the Small Business Administration and Vermont Community Development Program.

Lamoille County has several commercial lending institutions with significant asset value. Many offer a wide spectrum of services, from cash management, certificates of deposit, letters of credit, and business and agricultural loans to international services, payroll services, and employee benefit plans. These local banks are more than willing to work with businesses, industries, and institutions, as well as with individuals, to develop the package of services appropriate to their needs.

Commercial Lenders Serving Lamoille County

Bank and AddressPoint of ContactTelephone Number
TD Bank
20 Northgate Plaza
Morrisville, VT 05661
Katie Besecker802-888-7000
TD Bank
39 Main Street
Stowe, VT 05672
Katie Besecker802-888-7000
M&T Bank
1069 Mountain Road
Stowe, VT 05672
Jill-Jaret Rossi802-253-8525
M&T Bank
19 Morrisville Plaza
Morrisville, VT 05661
Deanna Wood802-888-1410
Community National Bank
116 VT Route 15 West
Morrisville, VT 05661
Tracy Roberts802-888-4633
Community Bank, N.A.
103 Lower Main Street
Johnson, VT 05656
Jodi L. Tallman802-635-2371
Union Bank
20 Lower Main Street
P.O. Box 667
Morrisville, VT 05661
Tina Norton802-888-0488
Union Bank
65 Northgate Plaza, Rte. 100
Morrisville, VT 05661
Tina Norton802-888-0488
Union Bank
47 Park Street
P.O. Box 419
Stowe, VT 05672
Brian A. Lavoie802-253-3879
Union Bank
198 Lower Main Street West
Johnson, VT 05656
 Tina Norton802-888-0488
Union Bank
5062 VT Route 15
Jeffersonville, VT 05464
Rebecca Stebbins802-527-3222
Farm Credit East
250 Commerce Way
Derby, VT  05829
 Loren Petzoldt(802) 334-8050
Vermont Federal Credit Union
275 Kennedy Dr.
South Burlington, VT 05407
Melanie Saia(802) 923-1185
North Country Federal Credit Union
39 Upper Munson Ave.
Morrisville, VT 05661
Brittany LeClair(802) 859-7508
Small Business Administration (SBA)Refer to your local banker

Alternative Lenders

USDA – Rural Development
Business Programs
87 State St., Suite 324
Montpelier, VT 05601
 Misty Sinsigalli802-828-6069
Vermont Economic Development Authority
58 East State Street Suite 5
Montpelier, Vermont 05602
Sam Buckley802-828-5605
Vermont Community Loan Fund
P.O. Box 827
Montpelier, VT  05601
Ben Green 802-223-4427
Community Capital of Vermont
P.O. Box 342
Barre, VT  05641
Alex Rob802-479-0167; X 2
VSJF Flexible Capital Fund
3 Pitkin Ct, Ste 301E
Montpelier, VT  05602
Janice St. Onge 802-828-0398
USDA Farm Service
356 Mountain View Dr.
Colchester, VT 05446
John Roberts 802-658-2803


For the latest news regarding economic development opportunities in Lamoille County.

Lamoille Economic Development Corporation


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.

Smugglers Notch Vermont


Meet Our Members

Our members cover a wide array of industries, from hospitality and dining to construction and professional services. Get to know our team today!


Lamoille Chamber

Our Chamber represents and advocates for the wide range of business in Lamoille county, including hospitality, manufacturing and services.

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.