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Serving the Community
Small Business Assistance Program Loan Committee
The Town of Brattleboro's Small Business Assistance Program 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%, whichever is greater. Money may be used for starting or expanding the business, creating jobs, renovation, expansion, or relocation.
The program is available for the following purposes:
• 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.
The application and relevant documents are below.
To obtain a loan, the applicant must submit a completed application package with a $50 application fee to the loan manager.
After your application has been reviewed for completion, the loan manager will schedule a loan review committee meeting for you to make a presentation about your proposal for funding. The loan review committee makes recommendations to the Selectboard. The Selectboard makes the final decision on all loans. The entire process takes 6 to 12 weeks on average.
Please call the Grants & Loans Manager at 802-251-8122 or [email protected] if you have any questions.
Currently Serving
Debbie Boyle
Adam Grinold - BDCC
Peter Case - Selectboard
Vacancy
Kim Ellison - Accountant, 802-251-8122