Montpelier Business Loan Fund

Program Description

The Montpelier Business Loan Fund (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 & Development.
 

Objectives:
The overall objectives of the Montpelier Business Loan Fund are to:

• Encourage the creation of new community-based businesses that contribute to the economic mix and quality of life in downtown Montpelier.
• Provide financing to new enterprise developments that are unable to obtain sufficient financing through existing lending institutions.
• Strengthen and promote existing businesses.
• Encourage the full utilization and accessibility of existing buildings.
• Create or retain job opportunities that are available to low and moderate income persons.
• Create of retain jobs that pay a livable wage.
• Attract business to the area which contribute to the economic diversity, create job opportunities for low and moderate income persons, enhance the quality of life, and which have a good chance of success.