The People’s United Community Foundation, the philanthropic arm of People’s United Bank, announced that it has once again awarded $12,000 to the Vermont Community Loan Fund to support its Business Loan Program, including lending to Vermont's farms, food producers and working landscape entrepreneurs.
For 30 years, the VCLF has strengthened Vermont by creating opportunities leading to healthy communities and financial stability for all Vermonters. A nonprofit, mission-driven lender, they:
• Provide loans, grants and ongoing technical assistance for the development of affordable housing, community facilities, local businesses, child care programs and other projects that benefit lower-income Vermonters;
• Offer socially-responsible investors a safe, sensible tool for investing in Vermont.
VCLF’s Business Loan Program provides access to capital for small and emerging businesses that cannot obtain sufficient credit from traditional lenders to continue their business’ growth. VCLF targets loan capital to businesses that benefit lower-income residents, are women-owned, downtown-located, or are agriculturally-related. The goal of VCLF is to grow small businesses so they become credit-ready and qualify for traditional financing.
“We are pleased to once again support the Vermont Community Loan Fund in their efforts to grow businesses throughout Vermont,” said Michael Seaver, Officer, People’s United Community Foundation and President of People's United Bank in Vermont. “We have been a long time partner with VCLF in making sure Vermont businesses are given every opportunity to succeed. It is now more important than ever that we provide support to organizations like VCLF.”