Vermont Business Magazine The People’s United Community Foundation, the philanthropic arm of People’s United Bank, announced today that it has awarded $12,000 to the Vermont Community Loan Fund (VCLF) to support its Business Loan Program. The goal of VCLF is assist small businesses in qualifying for traditional financing. VCLF’s Business Loan Program provides access to capital for small and emerging businesses that cannot obtain sufficient credit from traditional lenders. VCLF targets loan capital to businesses that benefit lower-income residents, are women-owned, are located in a downtown area, or are related to agriculture.
The grant brings the total amount awarded to VCLF by the People’s United Community Foundation to more than $65,000 since 2009.
“We are pleased to once again partner with the Vermont Community Loan Fund in their efforts to grow businesses throughout Vermont,” said Michael Seaver, Officer, People’s United Community Foundation and President, People's United Bank, Vermont. “We have been a long-time partner with VCLF in making sure Vermont businesses are given every opportunity to succeed. It is now more important than ever that we provide support to organizations like VCLF.”
Established in 2007, People’s United Community Foundation was formed to help support programs and activities that enhance the quality of life for citizens in the communities that People’s United Bank serves. People’s United Bank, founded in 1842 and serving customers from New York to Maine through a network of more than 400 branches, is the largest independent bank headquartered in New England. The Foundation places special emphasis on programs designed to promote economic self-sufficiency, education and improved conditions for low-income families and neighborhoods. The funding priorities of the Foundation include community development, youth development, and affordable housing