Growing your existing business?
No matter whether you are creating, growing, or relocating a business that is large, small, or somewhere in between, you will find a broad spectrum of financing and incentive options available in Vermont.
We here at BDCC can help you sort through the public and private programs and services, and develop a road map customized for your company’s needs. The range of possibilities include, but are not limited to, tax credit assistance, power rate incentives, revolving loan funds, and state development banking.
Resources to Help Plan
Vermont Procurement Technical Assistance Center (VT PTAC)
Ed Williams, Procurement Counselor I – Springfield Office (Windham and Windsor Counties) 802-885-3061
The Vermont Procurement Technical Assistance Center (VT PTAC) exists to help Vermont businesses succeed in obtaining government contracts. The center offers free counseling services to Vermont businesses and provides assistance on how to bid on government contracts at the federal, state and local levels.
Vermont Manufacturers Extension Center (VMEC)
The Vermont Manufacturers Extension Center is a nonprofit statewide resource for small to medium-sized manufacturers in Vermont. The mission of VMEC is to improve manufacturing in Vermont and strengthen the global competitiveness of the state’s smaller manufacturers.
VMEC’s services include a free of charge “first step,” which might entail a site visit and a confidential needs assessment. Additional services include professional consulting, one-on-one coaching, and public/onsite workshops to help Vermont manufacturers increase their productivity, modernize their manufacturing and business processes, adopt advanced technologies, reduce costs, and improve their competitiveness, according to VMEC’s website. VMEC program topics include growth and strategic management (such as needs assessment and market analysis), lean enterprise, supply chain, quality (such as ISO 9001:2000 certification), and the New England Manufacturing Supply Chain (NEMSC), a new resource to connect Vermont manufacturers to the U.S. Department of Defense supply chain.
Vermont Small Business Administration (SBA)
SBA offers information on small business loans, grants, bonds and other financial assistance. SBA loans are executed through a local lender and VEDA. As an example, SBA can guarantee a loan made by a bank. While SBA does not make loans directly, you can find a local lender who can help you with your loan application.
Vermont Rural Ventures (VRV)
VRV is a qualified CDE operated by Housing Vermont, that deploys New Markets Tax Credit resources to support investment in the economic, environmental, and social well-being of Vermont communities. NMTC funds are used to retain and create jobs for Vermonters by financing key community developments in downtown and village centers and in other concerted community efforts which demonstrate positive impacts on Vermont’s economic, health care, energy and food systems.
Learn More about New Market Tax Credit
Financing and Incentive Opportunities
Click on any of the below financing and incentive opportunities to learn more about how the BDCC, Windham Region, and State of Vermont can support your growing business.
The VEGI program can provide a cash payment to businesses based on the revenue return generated to the State by prospective job and payroll creation and capital investments.
Since 1974, VEDA has provided over $2.07 billion in financial assistance to Vermont businesses and farms.
A VCLF loan can be used for real estate mortgages, fixed-asset financing, permanent working capital, a line of credit, purchase order financing, restructured debt and subordinated debt.
The WCEDP program’s funds will be made available through direct low-interest loans administered by VEDA, competitive grants to organizations responding to an annual Request for Proposals, and non-competitive grants and incentives.
The VTP provides performance based workforce grants for: pre-employment training, training for new hires and incumbent workers.