Lamoille County’s Revolving Loan Fund has $500,000 for small businesses

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MORRISTOWN — Businesses in Lamoille County are eligible to apply for microloans from $2,500 to $10,000 or small business loans up to $50,000, for a term of 3 to 5 years, through the Lamoille County Revolving Loan Fund.

The fund provides needed capital as a supplement to commercial loans, or as stand-alone financing for small projects.

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

The fund has $500,000 available to lend to small businesses is Stowe, Morristown, Elmore, Wolcott, Hyde Park, Johnson, Jeffersonville, Eden, Waterville and Belvidere.

Companies in agriculture, manufacturing, commercial and service businesses that are growth-oriented, innovative, technical or create value-added products, can work with the Lamoille Economic Development Corporation on a financing plan to meet the business’s capital needs.

For more information visit, lamoillerevolvingloanfund.com or call 802-888-5640.