What is Community Capital of Vermont and how can we help your business?
Community Capital of Vermont or “CCVT” specializes in loans and lines of credit under $100,000 for Vermont businesses having difficulties finding funding through traditional lenders. We also offer free Business Advisory services and can connect applicants with free advisors across the state.
Examples of loans available through CCVT
- Small Business Administration (SBA) loans
- US Department of Agriculture (USDA) loans
- Lines of Credit
- Loans for starting or purchasing a business
- Loans for equipment and inventory
- Loans for Refinancing debt
- Loans for Working capital
Some exceptions apply, such as constructions loans, call 802-479-0167 or email us to discuss your needs.
Does CCVT lend to start-ups?
Yes, CCVT regularly lends to start-ups.
How much can I borrow?
Loans are available from $1,000 to $100,000. Loans over $50,000 may require stronger collateral and a more extensive business plan.
What are CCVT’s interest rates?
Our current rates are 8% -10.5% for up to 5 years. Our rates are subject to change.
What are the minimum credit score requirements?
- Loans of $50,000 or less, have no minimum credit score requirement.
- Loans over $50,000 require a minimum credit score of 625
For borrowers with past credit difficulties, there may be a requirement to improve their credit prior to approval of the loan. Free credit building support is available.
Do you offer Small Business Administration (SBA) Loans?
Yes, we offer SBA loans and can help you learn more about how the SBA’s many programs can help your business grow.
What do I need to apply for a loan?
You can find the complete list on the first two pages of our application, but the two main components will be a well- developed Business Plan and two years of Cash-Flow Projections.
How long will it take for my loan to be approved?
Underwriting times for loans vary from a few weeks to eight weeks depending on some variables including:
- Time needed to complete application
- Amount of loan
- Status and development of your business plan
- Cash flow projections
- Any revision requests to your business plan, cash flow projections or other documents, see application.
Do I need collateral for a loan?
Yes, all business loans must be secured with collateral. Different collateral types may be considered and must be discussed with your Loan Officer during underwriting.
What if I don’t have a business plan or cash-flow projections?
Applicants can be connected with free business advisors across the state for help creating a business plan and developing cash flow projections.
What other support does CCVT offer businesses?
We have connections with Business Advisors throughout the state who will help you complete your application and all the supporting documents. As a borrower with CCVT, you will have access to our free Business Advisor who can advise and support you while you are running your business.
Can I pay my loan off early?
Yes! We do not charge a prepayment penalty and we consider early payoff a success!