Grants and Loans
The Town of Brattleboro relies on public and private grant-makers to provide funding for a wide variety of projects, programs, services, and equipment purchases that might not be possible if funding were limited solely to tax income and fees for services. Grants range in size from a few hundred dollars to a few million dollars. The Town receives the majority of grants from state and federal funding sources and a minority of grants from private grantors, non-profits, and foundations. The Town applies for most grants on its own; however it sometimes acts as a conduit for funds to other organizations or it collaborates with other groups in applying for grants.
The Grants Manual, found in the menu on the left, provides detailed information about the Town's grants and it outlines the policies and procedures that ensure accountability and transparency in the Town's grants process.
The Town of Brattleboro does not make grants (with the exception of the Apartments in Homes Program), it only receives grants to supplement or fully fund projects, programs, services, or equipment purchases.
For information on the Apartments in Homes Program, please visit https://baahvermont.org.
Vermont Community Development Program (VCDP)
VCDP assists communities on a competitive basis by providing financial and technical assistance to identify and address local needs in the areas of housing, economic development, public facilities, public services, and handicapped accessibility modifications.
VCDP funds must primarily benefit persons of low and moderate income. In addition, assistance is provided to communities for threats of health and safety issues as urgent needs and slums and blight projects. Municipalities, community groups, or non-profit organizations or small businesses interested in VCDP assistance may need to coordinate efforts through the Town.
For more information, please visit http://www.accd.vermont.gov/
If you are seeking grant funding, see the menu to the left for a list of regional grants and loans assistance programs.
Small Business Assistance Program (SBAP)
SBAP loans are available for expansion or start-up of a viable current or prospective business located in Brattleboro for $10,000-$70,000 with terms of 5-10 years and an interest rate of ½ prime or 3%, which ever is greater. Money may be used for starting or expanding the business, creating jobs, renovation, expansion, or relocation.
The program is available:
- To assist industrial and commercial ventures which have a demonstrable gap in a loan financing package
- To assist an economic development project that will provide new or renovated, reasonably-priced space for the start-up, expansion or relocation of the type of business described above, and which also demonstrates a financing gap
- To create quality full-time jobs
- To diversify and strengthen Brattleboro’s economic base through the financial assistance offered, and
- To provide jobs to low and moderate income individuals.
Loans are reviewed by the SBAP Loan Review Committee. A loan manager facilitates and oversees the SBAP and coordinates the Committee efforts to review applications and make recommendations to the Selectboard regarding their eligibility and funding. The Selectboard makes final decisions on loans.
To obtain a loan the applicant must submit a completed application package to the loan manager and the loan manager will coordinate the application process through the loan review committee, the Selectboard, and the closing.
See menu to the left for the SBAP loan program policies. Contact the grants and loans manager for an application package.
Rental Housing Improvement Program (RHIP)
RHIP loans provide low-interest (the greater of half of prime rate or 3%) loans between $3,000 and $25,000 for up to a 10 year term to help upgrade or maintain affordable rental housing and to improve safety or energy efficiency of rental housing.
To be eligible for a loan the rental housing must be in the Town of Brattleboro, and the applicant must be the owner of the property, tenants must have written rental agreements that conform to Vermont State law, and at least 51% of the rental units must be occupied by low or moderate income households as defined by the table in the policy and procedures.
The money may be used for expenses related to creating or rehabbing rental units, repairing or improving the structure, its energy efficiency, its utility system, is handicap accessibility, to reduce lead pain, or abate asbestos.
Money may not be used for acquisition of property, debt service, reimbursement for expenses already incurred, or for operating expenses, including routine maintenance.
To obtain a loan the applicant must submit a completed application package to the loan manager. The loan manager will coordinate the application process through the loan review committee, the Selectboard, and the closing.
See menu to the left for the RHIP loan program policies. Contact the grants and loans manager for an application package.
Disaster Relief Loans
Disaster Relief loans are available to help small businesses meet immediate needs created by a disaster. To be eligible for a loan the business must remain in Brattleboro as well as meet other basic eligibility requirements and submit an application. Loans are available up to $10,000 with terms of 5 years and an interest rate of ½ prime or 3%, which ever is greater.
The money may be used for expenses directly associated with operating the business and may be used to repair or replace damaged inventory or equipment, for relocation (within Brattleboro), or re-construction. Money may not be used for payment of back taxes, payment of debt service or business expansion.
To obtain a loan, the applicant must submit a completed application package to the loan manager. The loan manager will coordinate the application process through the loan review committee, the Selectboard, and the closing.
Contact the grants and loans manager for an application package.