Jennifer and David Anderson are small business owners in Waterbury and are ready to expand.
With the help of a loan through the Vermont Economic Development Authority, the Squire House assisted living home will soon be under their ownership. "It's an opportunity to continue to provide care to our seniors here in the Waterbury community and maintain a quality care that we want to provide," David Anderson said.
The Andersons are just one of the 240 businesses to get help through VEDA and Monday the federal government awarded more money for VEDA to help small businesses. "We're here to announce another investment here in Vermont -- a one million dollar intermediary re-lending program loan from the USDA to the Vermont Economic Development Authority," said Ted Brady, USDA's Rural Development State Director.
It's a program that has already helped create more than 2,000 jobs across the state. Recipients include those who don't qualify for traditional financing and can demonstrate how they will create jobs and keep them in Vermont. The Cork and Wine Bar Market has created seven new jobs in Waterbury. "It was an incredibly favorable five year, $50,000 loan that made all of it possible," said the Cork's Danielle Nichols Moffatt. The Waterbury local received a loan through VEDA's small business program in 2011. The additional funds announced Monday will continue to provide unconventional financing options for the small businesses.
"There's no better way to grow jobs than capital for small businesses like Danielle who has a dream and a vision and that's why I continue to maintain that we've got a bright economic future," Gov. Peter Shumlin said.
The USDA has invested nearly $10 million in VEDA since 1989. Those funds have helped businesses with direct loans and loan guarantees. "It feels really good and VEDA has been incredible to work with, so I feel really lucky that I've been able to make it happen," Nichols Moffatt said.
Tuesday, March 11 2014 7:56 PM EDT2014-03-11 23:56:46 GMT
"You know, people say you might not need it, which is true, but this way you get a choice. I don't have to go out tomorrow," said Lorinda Henry of Milton. Henry says she hit the grocery stores TuesdayMore >>
Parts of Vermont could get up to 24 inches of snow in the coming storm. And VTrans officials are warning drivers they may not be able to keep up with the storm rolling in Wednesday.More >>
Tuesday, March 11 2014 8:02 PM EDT2014-03-12 00:02:07 GMT
"Seems like it was just yesterday. Doesn't seem like it's been two years at all," said Glenda Reandeau of Tupper Lake. Residents of Tupper Lake still have their eyes out for Colin Gillis, a now 20-year-oldMore >>
Colin Gillis of Tupper Lake, N.Y., disappeared two years ago. And authorities are still searching for him. They say the investigation now focuses on tips from the public and from those who were the last to see Gillis.More >>
Tuesday, March 11 2014 6:17 PM EDT2014-03-11 22:17:43 GMT
A Rutland City Police officer is recovering at home after a crash involving his cruiser. Authorities say Officer Adam Lucia was one of two officers responding to an aggravated assault call Monday at TopsMore >>
A Rutland City Police officer is recovering at home after a crash involving his cruiser.More >>
Tuesday, March 11 2014 11:49 AM EDT2014-03-11 15:49:17 GMT
A Plattsburgh woman faces charges for allegedly attacking someone with a knife. New York State Police were called to the Best Value Inn on Booth Drive Sunday night for a report of a domestic dispute. InvestigatorsMore >>
A Plattsburgh woman faces charges for allegedly attacking someone with a knife.More >>
Tuesday, March 11 2014 10:14 AM EDT2014-03-11 14:14:46 GMT
A Winooski man says he was held at knife point on Church Street in Burlington Monday afternoon as robbers took nearly 300 dollars from him. Police arrested 29-year-olds Andre Martel and Anthony HammondMore >>
A Winooski man says he was held at knife point on Church Street Monday afternoon as robbers took nearly $300 from him.More >>
Tuesday, March 11 2014 10:01 AM EDT2014-03-11 14:01:29 GMT
A South Londonderry man captured at the end of a high-speed chase now faces up to life in prison. Police say Christopher Bush topped speeds of 100-miles-per-hour in a stolen SUV. The 27 year old pleadedMore >>
A South Londonderry man captured at the end of a high-speed chase now faces up to life in prison.More >>