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As COVID-19 spread across the state in 2020 closing schools, restaurants, theaters and countless other places of employment the pandemic forced Vermonters to learn and work from their homes.
When it seemed like each and every sector of the economy was closing or slowing down, one area actually began to thrive. Vermonters wanted to get out of their homes and soon sales for bikes, basketball hoops, swimming pools and boats began to soar.
“At the very beginning of the pandemic we got a Paycheck Protection Program like everyone else because there was so much uncertainty. We figured we’d be affected like everyone else, but soon realized there was a demand for our boats,” said Justin Martin, who co-owns Adirondack Guideboat with his brother Ian Martin. Located in North Ferrisburgh, the company builds custom cedar boats and Kevlar boats.
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An SBA International Trade Loan provides small businesses with enhanced export financing options for export transactions.
An ITL can assist small businesses enter and expand into international markets and, when adversely affected by import competition, make the investments necessary to better compete. An ITL offers a combination of fixed asset, working capital financing and debt refinancing. The maximum loan amount is $5,000,000 in total financing and the SBA may guarantee up to 90% of the loan.
SBA’s Export Finance Manager for New England Joe Raycraft is available to assist businesses and lenders to evaluate opportunities, determine eligibility and discuss relevant loan options.
For more information, email joseph.raycraft@sba.gov or call 860-573-9150.
The Center for Women & Enterprise VT is hosting a Business Plan Basics workshop at 5 p.m. Feb. 15.
Topics include:
• Why business plans are needed
• Overview of each section of a business plan
• Research and writing tips
• Resources available
Click here to register.
The Internal Revenue Service is hosting a tax filing webinar at 10 a.m. Feb. 18.
Topics include:
- Tax records to retain to make filing your tax return easy
- The Child Tax Credit, particularly for families who don’t normally file tax returns.
- The Recovery Rebate Credit, particularly for those individuals who don’t normally file a tax return and/or didn’t receive the 3rd Economic Impact (stimulus) Payment
- The importance of filing electronically and direct depositing of refunds when possible
- Free tax preparation services offered by the VITA (Volunteer Individual Tax Assistance) program
To join the webinar, click here.
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