East Montpelier Revolving Loan Fund

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Contacts:

Contact Dave Coburn by email at: dave. coburn@comcast.net or call 223-6886.


East Montpelier Revolving Loan Fund:

Can It Help You? The Revolving Loan Advisory Committee has been resurrected to assist low- to moderate-income residents in the Town of East Montpelier with small business development and affordable housing needs. We are seeking ideas from members of the community as to how to target funds to be most effective.

Since April of 2011, the Town of East Montpelier has been receiving about $650 each month from Housing Vermont, Incorporated, the owners of Sandy Pines Mobile Home Park (SPMHP). This amount is half of their repayment from the Vermont Community Development Program (VCDP) grant the town facilitated as a loan to replace their septic system. The remainder returns to the state. In order for the town to keep the money, state guidelines require the town to establish a revolving loan fund with certain criteria, partially stated above.

Do you have an idea for a new small business, or expansion for one already in existence? Are you renting now, but need down payment assistance to purchase in town? Do you own property in town, but were hoping to weatherize, upgrade your energy systems, or otherwise renovate? Would you like to see these funds used for senior housing initiatives? Or maybe you have another idea about the needs for these funds and/or how to prioritize applications when they come in?

If you have ideas for the use of the East Montpelier Revolving Loan Fund, or would like to be included in this committee, please contact Dave Coburn by email at: dave. coburn@comcast.net or call 223-6886.

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