Vermont Business Magazine Given the current COVID19 pandemic, the start of the 2020 Vermont Emerging Leaders Program will be delayed until at least late May 2020 and that is subject to further updates.
The Small Business Administration will continue to accept applications for the program at www.interise.org/
Emerging Leaders, a free business course in Williston, Vt. is seeking 20 entrepreneurs throughout Vermont to participate in the seven month course to create a three-year strategic growth plan to build a sustainable business of size and scale.
Firms must be for-profit enterprises, been in business for at least three years, have at least one full-time employee, and have annual revenues between $400,000 and $10 million.
There are no restrictions on the type of businesses that can participate. Some examples of participating businesses include manufacturers, retail stores, wholesalers, contractors, professional services and food service.
To apply, visit https://interise.org/
For more information, visit www.sba.gov/
Economic Injury Disaster Loans Available To VT Small Businesses Affected By COVID-19
Montpelier, Vt. – Vermont small business owners suffering economic injury due the COVID-19 pandemic can apply for Small Business Administration (SBA) disaster loans, following a statewide disaster declaration.
SBA’s Economic Injury Disaster Loans (EIDL) offer up to $2 million in assistance per business, providing economic support to overcome temporary loss of revenue. EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses and 2.75% for private non-profit organizations, which are also eligible for EIDLs.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers EIDLs to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay. Small businesses with credit available elsewhere may not be eligible.
To apply online, visit https://disasterloan.
For more information, call the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice