Small business lenders in Vermont connect companies with the capital they need to grow, acquire and meet working capital requirements.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Fundera has access to SBA Loan programs that are partially guaranteed by the U.S. Small Business Administration.
With low interest rates, long repayment terms, and high borrowing limits, get the capital for nearly any business purpose with an SBA loan via Fundera.
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Vermont, nestled in New England, is renowned for its breathtaking Green Mountains and picturesque landscapes, offering a high quality of life that appeals to high-income professionals. With a population of just over 640,000, its close proximity to coastal amenities and New York City makes Vermont ideal for small businesses and those pursuing a balanced lifestyle.
The state’s economic activity is quite diverse. There’s a strong agricultural industry present with a focus on dairy farming and forestry. Manufacturing and energy are also significant parts of the economy. Perhaps what the state is most noted for is its agricultural industry, from skiing and mountain biking to hunting. Though numerous large organizations exist here, small business is a dominating force. The U.S. Small Business Administration states that 78,883 small businesses exist in Vermont, producing 324,821 jobs – which is more than half of the state’s population. The total payroll in Vermont from these small businesses is $27,147,061, making an impressive imprint on the economy as a whole.
To have these types of businesses, there’s a need for a strong base of lenders. Vermont small business lenders are readily available and offer a wide range of tools to help support the requirements of companies. According to the latest three years of data available from the U.S. Small Business Administration, there are 506 active small business loans in the state, with a total loan volume of $164,326,940. For businesses seeking capital, the average loan size in Vermont is $324,757. These funds may help companies to launch a new product, meet the demands of equipment acquisitions, help fund promotional campaigns, or enable companies to recruit additional staff.
A small business loan is a type of capital loan in which a lender provides the amount of money the business needs in exchange for interest. The small business itself or the owner may apply to one of the many small business lenders in Vermont to obtain this type of financial support. The lender then determines if it can lend money to the lender and, if so, how and how much it can provide. Without a doubt, small business lenders consider the amount of risk present when making this decision. The offer for the loan will list the terms and conditions, including the interest that the borrower must pay on the principal amount borrowed.
Small business loans in Vermont are readily available in numerous forms. One of the most common options is an SBA loan, which means the loan is backed by the U.S. Small Business Administration. These loans are competitive with lower down payment thresholds, better interest rates and fees, and often easier qualifications for qualified businesses. Most are term loans in place for a set number of years.
Another option is to turn to a bank loan which may offer more flexibility in terms of how much is borrowed and the qualifications of the borrower. Short and longer term options are available. Business lines of credit, asset-based lending, and invoice factoring are other forms of business loans in Vermont.
To apply for a loan, the business or owner must submit the information that shows the business’s financial health, such as the profit and loss statements, tax returns, balance sheets, and bank statements for the previous few years. Lenders also need to see an outline of the company’s products and services and the competition – a good market analysis is an excellent way to gather this information. Small business lenders may also use the business owner’s or the company’s established credit history to make lending decisions.
A small business lender in Vermont can work closely with borrowers to create a plan that works for their individual needs. Without a doubt, small business owners need to compare their options to ensure they obtain the best possible loan terms for their needs. The good news is that a lot of options exist, including:
Most entrepreneurs launch a company with their own funds. This is because you have no track record yet and cannot show revenue to be able to pay back a loan. Plenty of new small business owners create their business plan and then launch with personal savings or on credit cards. For-profit startups don’t usually meet the eligibility requirements for small business loans until they’ve been in operation for some time.
Nonprofit organizations may be able to use grant funds to get started. Check out other resources such as the Vermont Small Business Development Center (VTSBDC) and the Vermont Economic Development Authority to see if special small business grants are available.
Finding the most competitive offer that’s affordable and offers the borrowing power you need is worth a bit of comparison shopping. The best small business lenders in Vermont can help you. Remember that each state of Vermont lender may have its own loan application process, interest rates, credit score rules, repayment terms, and other business financing specifics.
| Rank | Bank Name | # of Vermont Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Community National Bank | 21 | 4.94% | $188,867 |
| 2 | Vermont 504 Corporation | 15 | 4.03% | $161,080 |
| 3 | M&T Bank | 11 | 5.80% | $203,073 |
| 4 | TD Bank | 10 | 7.11% | $257,600 |
| 5 | North Country Credit Union | 9 | 6.14% | $74,433 |
| 6 | Heritage Family Credit Union | 7 | 3.54% | $155,829 |
| 7 | Union Bank | 7 | 5.18% | $43,714 |
| 8 | Vermont Credit Union | 7 | 4.77% | $87,886 |
| 9 | Live Oak Banking Company | 5 | 5.43% | $1,411,000 |
| 10 | Mascoma Bank | 5 | 4.24% | $223,400 |
Founded in 1984 in Nemaha County, Kansas, Community National Bank has grown to be able to meet its customers’ needs with over $500 million in assets. The Community National Bank is able to provide a number of services, including small business loans, mortgages, and personal and business banking.
We reached out to Community National Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
The Vermont 504 Corporation is designed to provide services for small businesses to get the funding they need to maintain and achieve success. Vermont 504 Corporation has 4 locations to serve and meet the needs of its small business customers seeking loans up to $5.4 million.
We reached out to Vermont 504 Corporation to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Manufacturers and Traders Trust Company has been in business for 165 years and is also known as M&T Bank operating in 8 states and Washington, DC, with 780 branches. Manufacturers and Traders Trust Company provide a number of banking services through loans, grants, and personal banking.
We reached out to M&T Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
TD Bank was founded in 1852 in Portland, Maine, as a bank to help the community. Since that time, TD Bank has grown to be able to provide all types of services and products to meet the needs of its customers on a broad level all across the country.
We reached out to TD Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
In 1950 in Burlington, Vermont, the employees of General Electric in the area started the North Country Credit Union to meet their needs. The North County Credit Union is now available to people in Various counties in New York, New Hampshire, and Vermont to meet their banking needs.
We reached out to North Country Credit Union to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Whether your business is newer or just looking for a way to start expanding, having access to information and guidance is always beneficial. There are various ways to get this information, including through the small business resources in Vermont.
The Small Business Administration in Vermont is perhaps the most common initial choice for companies looking for loan information, business formation advice, and help with establishing certifications and contracts. There are services locally, but there is also a website available that is packed with information.
Another resource is an organization called SCORE, which was built by successful business owners to help support the education and guidance that small businesses often need. SCORE is a free resource that can help small businesses in Vermont get help through mentorships, training, and educational programs.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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