lending
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
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.
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 Address | Point of Contact | Telephone Number |
TD Bank 20 Northgate Plaza Morrisville, VT 05661 | Katie Besecker | 802-888-7000 |
TD Bank 39 Main Street Stowe, VT 05672 | Katie Besecker | 802-888-7000 |
M&T Bank 1069 Mountain Road Stowe, VT 05672 | Jill-Jaret Rossi | 802-253-8525 |
M&T Bank 19 Morrisville Plaza Morrisville, VT 05661 | Deanna Wood | 802-888-1410 |
Community National Bank 116 VT Route 15 West Morrisville, VT 05661 | Tracy Roberts | 802-888-4633 |
Community Bank, N.A. 103 Lower Main Street Johnson, VT 05656 | Jodi L. Tallman | 802-635-2371 |
Union Bank 20 Lower Main Street P.O. Box 667 Morrisville, VT 05661 | Tina Norton | 802-888-6600 |
Union Bank 65 Northgate Plaza, Rte. 100 Morrisville, VT 05661 | Jonathan Gould | 802-888-0436 |
Union Bank 47 Park Street P.O. Box 419 Stowe, VT 05672 | Brian A. Lavoie | 802-253-6600 |
Union Bank 198 Lower Main Street West Johnson, VT 05656 | Karen Carter | 802-635-6600 |
Union Bank 5062 VT Route 15 Jeffersonville, VT 05464 | Tammy Cox | 802-644-6600 |
Farm Credit East 250 Commerce Way Derby, VT 05829 | Loren Petzoldt | (802) 334-8050 |
SBA Small Business Administration | Refer to your local banker |
Alternative Lenders
USDA – Rural Development Business Programs 87 State St., Suite 324 Montpelier, VT 05601 | Misty Sinsigalli | 802-828-6069 |
Vermont Economic Development Authority 58 East State Street Suite 5 Montpelier, Vermont 05602 | Sandy Croft | 802-828-5605 |
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 Rob | 802-479-0167; X 2 |
VSJF Flexible Capital Fund 3 Pitkin Ct, Ste 301E Montpelier, VT 05602 | Janice St. Onge | 802-828-0398 |
USDA Farm Service | John Roberts | 802-658-2803 |
WHAT'S HAPPENING
For the latest news regarding economic development opportunities in Lamoille County.

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 construction and professional services. Get to know our team today!

CHAMBER
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.