Press Release: BDCC Launches Bold, New Business Financing
Southern Vermont – Brattleboro Development Credit Corp (BDCC) announces the launch of the Windham Investment Fund—flexible capital for Windham County businesses that need funding to achieve significant growth and innovation.
“We understand that business growth takes time,” says Adam Grinold, BDCC’s Executive Director. “The Windham Investment Fund is ‘patient capital’ that gives a business the breathing room it needs to achieve its milestones without rushing to meet immediate financial obligations.”
The availability of patient capital is essential to help business ecosystems in rural areas thrive. Economic development organizations such as BDCC are recognizing the need for creative, innovative capital for businesses that are not located in innovation hubs with easy access to investors, such as Brattleboro. BDCC is finding ways to make this kind of capital both available and accessible in Windham County, driving change and supporting local businesses. The vast opportunities presented by this kind of funding accelerate growth by allowing working capital to remain available for innovation and expansion, rather than being diverted to early debt service.
To accomplish this, the Windham Investment Fund offers adaptable financing solutions and unique funding options such as royalty financing, interest-only loans, equity investments, or preferred equity arrangements. Possible uses of this fund include: fostering local innovation by giving entrepreneurs the resources they need to develop and scale cutting-edge solutions; catalyzing the growth of enterprises that actively contribute to the development, integration, and expansion of local markets and industries; and helping Windham-region businesses —especially high-wage and growth-focused employers—ensure local ownership and control during succession, reducing the need for external equity investments and avoiding closures.
“This fund was created specifically for businesses that are located in Windham County,” says Grinold. “They have to be in good standing with the state, have at least one employee other than the owner, show a track record of proven financial growth, and have a plan for projected growth within the next two years.”
Investments can be made for development of product or services (e.g., R&D, expansion of sales departments, certification, etc.), equipment acquisition, building construction (new, renovation, improvements, etc.), and transitions to new ownership to retain local business ownership with local investment, but the fund is not limited to these uses. Business owners who wish to learn more or submit an application should reach out to Danielle “Dani” Delaini, BDCC’s Assistant Director and Head Instig8’r. She can be reached at 802-257-7731 ext. 210 or ddelaini@brattleborodevelopment.com.
About BDCC
The Brattleboro Development Credit Corporation (BDCC) is a private, nonprofit economic development organization with the mission of investing in the drivers of the regional economy so that people, businesses, and communities in Southern Vermont can thrive. BDCC serves as the State of Vermont’s certified Regional Development Corporation (RDC) for the greater Windham County area (including Windham County and the towns of Readsboro, Searsburg, Winhall and Weston). BDCC is one of 12 RDCs throughout Vermont. BDCC activity is made possible in part by a grant from the State of Vermont through the Agency of Commerce and Community Development. For more information visit: https://brattleborodevelopment.com/
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