Vermont Business MagazineA construction contractor, a mason, and a hauler have been awarded loans from Community Capital of Vermont (CCVT) to help grow their operations. Red Rooster Construction of South Strafford, Stonewall Hardscapes of Wolcott, and JSK Transport of Sutton received a total of $179,000 to purchase equipment and for working capital.
“With our small business loans, these rural entrepreneurs will grow their businessand create jobs. Our loans are helping to propel Vermont’s trades and service economy,” said Martin Hahn, executive director of Community Capital of Vermont.
Shawn Kincaid, owner of JSK Transport, used his loan to buy his own tractor-trailer and cover start-up costs. Now an owner-operator, he can work as a leased operator with established trucking companies to haul freight. “As an owner operator, I have greater flexibility, independence, and the opportunity to map out my own expansion,”said Kincaid.
Associated Builders and Contractors, a national construction industry trade association, reported in July that Vermont’s construction industry is rebounding. At the same time, the state’s FY15 budget prioritized investment in transportation infrastructure, stimulating statewide construction.And second home owners alone spent $200 million on construction and renovation in 2013 according to a recent Vermont Economic Impact Study.
“With loans in hand, these rural businesses are positioned to take advantage of the improving economic climate. CCVT invests in entrepreneurs, and these three will leverage those investments to attain public and private sector contracts that fuel their businesses and grow Vermont’s economy,” Hahn stated.
New England’s highest volume SBA micro-lender, CCVT is a nonprofit community-based lending organization that specializes in providing loans to underserved businesses and new entrepreneurs. CCVT loans range from $1,000 to $100,000 and can be used to start or grow a business.
Source: Community Capital of Vermontwww.communitycapitalvt.org.