The Winooski Small Business Loan Program expands the City’s commitment to economic vitality by providing access to financing for new and existing businesses in Winooski. The $250,000 small business revolving loan fund will be serviced by Opportunities Credit Union and offers loans from $5,000 to $75,000. The program is designed to financially assist any new or existing small business in Winooski that will:
- create or stabilize employment opportunities;
- reduce commercial vacancy rates in the City;
- provide desired goods and services for our community; and
- contribute to the economic vitality of the City.
The purpose of the Winooski Small Business Loan (WSBL) program is to assist Winooski businesses in obtaining financing for a wide range of business needs including, but not limited to, equipment purchases, leasehold improvements, and major repairs. Businesses that meet specific criteria may be eligible for interest buy-downs on their loans.
- View the full list of Small Business Loan Program guidelines
- The maximum loan from this program is $75,000. The minimum loan amount is $5,000
- The maximum loan term is 7 years unless otherwise provided by regulation, guarantee or OCU Small Business Lending Policy.
- The area served by the WSBL program shall include the geographical limits of the City of Winooski, Vermont