The MBLF seeks to foster a strong and vital downtown in Montpelier by making capital available to new enterprise developments that are unable to obtain sufficient financing through existing commercial lending institutions. The program is administered by the City of Montpelier Department of Planning and Development.
The overall objectives of the Montpelier Business Loan Fund are to:
Attract businesses to the area which contribute to economic diversity, create job opportunities for low and moderate income persons, enhance the quality of life, and which have a good chance of success.
Create or retain jobs that pay a livable wage.
Create or retain job opportunities that are available to low and moderate income persons.
Encourage the creation of new community-based businesses that contribute to the economic mix and quality of life in downtown Montpelier.
Encourage the full utilization and accessibility of existing buildings.
Provide financing to new enterprise developments that are unable to obtain sufficient financing through existing lending institutions.