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 | FCIDC and the
Revolving Loan Fund |
| Who
we are: FCIDC is a non-profit regional
development corporation dedicated to building a strong and diversified
economy in Franklin County, Vermont. |
| Business Assistance:
FCIDC provides technical assistance to companies
wishing to build or expand their businesses in Franklin County.
Whether a business needs assistance with permits, manufacturing space or
access to markets, FCIDC is prepared to help |
| Financial Assistance:
FCIDC also provides financing to small businesses
through its Revolving Loan Fund. Loans range
from $25,000 to $150,000 and are typically leveraged with a commercial bank
loan. |
| REVOLVING LOAN FUNDS AT WORK IN FRANKLIN
COUNTY |
Revolving Loan funds are available to start-up and established
businesses. Revolving Loan Fund is unique in that the program can fund financially
sound projects that can not obtain all of the credit needed from a bank.
Revolving Loan Fund is a partner to the Vermont banking community and not a competitor.
| Eligible Loan Purposes: |
Purchase real estate
Purchase equipment
Facility fit-up
Working capital
Value-added
agricultural
Revolving Loan Fund can not fund more than 75% of total project
costs. Business equity and/or bank financing must provide the
difference.
| Ineligible Loan Purposes: |
Debt refinancing
Lines of credit
Agricultural
production
| Eligibility Requirements: |
Business must be at least 51% owned by U.S. citizens or individuals
legally admitted for permanent residence.
Business must be
located in Franklin County, Vermont.
Any person or
business holding 20% or more of an interest in the business to be
financed can not be delinquent on any Federal debt.
The FCIDC Revolving Loan Fund was
originally funded by USDA Rural Development.
| Business Planning Assistance: |
Through our partnership with the Vermont Small
Business Development Center, you can access help with your loan
Application and business planning process.
www.vtsbdc.org
Locally: (802) 524-2194
| SBDC can help companies with: |
Expansion planning
Marketing
Capital formation
Technology issues
Environmental issues
Pre-venture workshops
Counseling services are strictly confidential.
Pre-Business Seminar - fee $25.00
| FCIDC is an equal
opportunity lender and service provider. FCIDC and the Revolving
Loan fund
are prohibited from discriminating on the basis of race, color,
national origin, sex, religion, age, disability, political beliefs,
sexual orientation or marital or family status. |
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