BDCC Receiving $350K To Lend In S. VT

Vermont District Office  - Dec. 14,  2021

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BDCC Receiving $350K To Lend In S. VT

The Brattleboro Development Credit Corporation was recently selected to be a Small Business Administration microloan intermediary. BDCC has received a commitment of $350,000 from the SBA to lend to small businesses throughout southern Vermont.

BDCC is only the third SBA microloan lender in the state of Vermont, along with Community Capital of Vermont in Barre and Vermont Community Loan Fund in Montpelier. It will primarily serve the southernmost counties, providing direct loans up to $50,000 to small businesses. The average microloan in the U.S. is about $13,000.

The Brattleboro Development Credit Corporation is a private nonprofit economic development organization that serves to drive industrial and commercial growth throughout southern Vermont. BDCC is one of 12 Regional Development Corporations providing economic development services to each region of Vermont. The new SBA lending is part of BDCC’s efforts to expand the portfolio of financial products available to borrowers who need alternatives or supplements to traditional commercial loan products available through private lenders.

Read more.



COVID EIDL Webinar 1pm Today Dec 14

As the Dec. 31 deadline approaches, the SBA VT office is hosting a webinar about the COVID-19 Economic Injury Disaster Loan at 1 p.m. today, Dec. 14. Up to date information will be shared and a review of the basics.

The SBA VT office is hosting the webinar every Tuesday and Thursday at 1 p.m. throughout December. 

To access the webinar, visit http://ow.ly/9xna50H5h9Y

To access the webinar by phone, call 802-490-7604 and enter code 319419247#.

For more information, email susan.mazza@sba.gov.



An Inside Exit: Selling Your Business Webinar 3:30pm Today Dec 14

Learn the basics about ownership succession during a webinar at 3:30 p.m. Dec. 14. Following an overview of general ownership succession principles and the business valuation process, there are primarily three ways of selling a business, which are to family members, to managers, and to the larger group of employees. 

The event is co-presented by the RDCs of Vermont, Vermont Small Business Development Center, Vermont Employee Ownership Center, and VMEC, with funding from the Vermont Agency of Commerce and Community Development.  

This live webinar will be offered twice in December, led in each case by a business advisor with extensive experience in exit planning.  

To register, click here.



VT SBA Accepting Nominations For Annual Small Business Awards

The SBA Vermont District Office is accepting nominations for its 2022 small business awards. Previous Vermont winners include Ben and Jerry’s, Mamava and Lawson's Finest Liquids.

These annual awards recognize the achievements of SBA-assisted small businesses and the contributions they have made to their communities and Vermont’s economy.

To nominate a Vermont small business, email the name of the business along with the owner’s name and specific award category the company is being nominated for to daniel.monahan@sba.gov. Businesses may self-nominate.

The categories are as follows: 

Small Business Person of the Year 
Criteria: Individual or partners who own a small business, which has increased sales, profits and employees, and have been in business for three years. Business must have received Small Business Administration assistance. 

Exporting Small Business of the Year
Criteria: Small business which has increased sales, profits and/or employees due to exporting and been in business for three years. 

Family-Owned Small Business of the Year 
Criteria: Small business must be family-owned for at least 15 years and ownership has transitioned to another generation. 

Veteran-Owned Small Business of the Year 
Criteria: Small business at least 51% owned by a veteran of U.S. armed forces, which has been in business for three years. 

Woman-Owned Small Business of the Year 
Criteria: Small business at least 51% owned by a woman, which has been in business for three years.

Minority-Owned Small Business of the Year 
Criteria: Small business at least 51% owned by an ethnic minority, which has been in business for three years.

Young Entrepreneur of the Year 
Criteria: Individual or partners who own a small business, are under 30, and have been in business for three years. 

Microenterprise of the Year 
Criteria: Individual or partners who own a microenterprise with five or less employees, received SBA assistance and have been in business for three years. 

For more information about the awards, call 802-828-4422 or email daniel.monahan@sba.gov.