Are you a small business that would like to expand or locate in the Groveton region?

If so, you are eligible to receive funds from an exciting new loan program.

With the closing of the paper mills and its economic impact GREAT recognized the need to suport the viability and sustainability of the remaining businesses in our area. One way to accomplish that is to offer low interest loans used to grow local businesses and economy.

In cooperation with NCIC and USDA Rural Development, GREAT was able to establish a Revolving Loan Fund (RLF) to aid area businesses with improvements or expansion.

GREAT recognizes that in these times of economic uncertainty, decisions about borrowing money for capital improvement or business expansion are trying at best. Our hope is that the low interest loans we offer will ease some of that fear.

This loan opportunity can be used as part of a larger loan package or by itself. (Note: This request will need to meet normal loan underwriting standards.) 

Groveton Regional Economic Action Team has partnered with NCIC to offer loan funds to businesses in the Groveton Region.  To apply you can visit the Northumberland Town Hall or download and print the complete application from the website. 

Purpose of GREAT Revolving Loan Fund

  • Facade Improvements
  • Working Capital
  • Acquisitions of Real Estate
  • Buildings
  • Inventory & Start up Costs
  • Machinery & Equipment
  • Furniture & Fixtures

 Eligibility

  1. Must be a small business physically located in Northumberland.
  2. First priority will be given to those businesses located in downtown Groveton.
  3. One job per loan must be created or maintained.
  4. Maximum loan amount is $10,000 there is no minimum sized loan.
  5. Repayment schedules will be negotiated, generally 5 year term.
  6. Interest rate approximately 4%.
  7. Loan can only be used for legal business purposes.
  8. Return completed applications to:

NCIC

347 Portland street

St. Johnsbury, VT 05819

(802) 748-5101

Please include $50 non-refundable application fee.

 

 

     

       This opportunity is achieved through a Rural Businesss Enterprise Grant from USDA  Rural Development, which provides loans to start-up, newly established, or growing small businesses.

      For more information, please contact:

      Brian Bresnahan

      GREAT

      P.O. Box 276

      Groveton, N.H. 03582

      Email: brian@greatnh.org 

      RLF Application Package.pdf RLF Application Package.pdf
      Size : 0.506 Kb
      Type : pdf

      CLICK ON THE PDF DOCUMENT ABOVE AND PRINT TO APPLY FOR THE REVOLVING LOAN FUND

       
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