Addison County Economic Development Corporation - Financial Services: Revolving Loan Fund 1

Addison County Economic Development Corp.

Revolving Loan Fund 1

ACEDC’s original RLF was established to assist new and emerging manufacturing firms in the early stages of their development, when access to capital is most difficult. Loans from this fund range between $5,000 and $25,000. Funding can be up to 100% of a project. However, projects which leverage ACEDC’s funds with other sources will be given a priority ranking.

Rules and Regulations:

All loan requests must be accompanied with a completed business plan.
$100 non-refundable application fee must accompany your request for funding.
Interest rate based on risk analysis. Generally market rate financing.
One point closing fee and legal expenses due at closing.
Personal guarantees of principals.

Applications available by contacting ACEDC at (802) 388-7953. The Vermont Small Business Development Center, housed in ACEDC’s office, will provide assistance in the development of a funding proposal. This service is available at no cost.