BRATTLEBORO >> Forty Putney Road Bed and Breakfas, a French Provincial manor located just a short walk from downtown, was one of several businesses to receive a loan from the Vermont Economic Development Authority.
A small business loan of $223,500 was approved to support the purchase by Cindy and John Becker of the bed and breakfast. Brattleboro Savings & Loan also is providing financing for the project.
"We would like to thank VEDA for its support of small businesses in the state and us in particular," said John Becker. "We also would like to thank Brattleboro Savings & Loan for its support. We look forward to a long and prosperous relationship with both VEDA and BS&L."
Ranked on Trip Advisor as the No. 1 bed and breakfast in Brattleboro, 40 Putney Road B&B is a quaint and intimate property with six guest rooms. The Inn is located within an easy walk to downtown Brattleboro, and has walking/hiking trails accessible from the backyard gardens;
Loans totaling $613,756 were approved through VEDA's Small Business Loan Program, which assists growing Vermont small businesses that are unable to access adequate sources of conventional financing.
For more information on 40 Putney Road, call 800-941-2413 or visit www.fortyputneyroad.com.
In total, in this round, VEDA approved $7.8 million in financing for economic development projects throughout Vermont.
"VEDA is so pleased to be able to provide growth financing to several start-up and early-stage businesses," said Jo Bradley, VEDA Chief Executive Officer. "In addition, VEDA is helping a long-dormant hydroelectric production facility in southern Vermont once again produce renewable energy."
Other projects that received financing assistance included Hoosic River Hydro, $2 million; Konrad Prefab in Springfield, $180,000; Railroad Row in White River Junction, $150,000; Honest to Goodness Farm in Newark, $213,460; Appalachian Gap Distillery, Inc., in Middlebury, $100,000; Douglas Sweets in Shelburne, $90,000; and The Traveled Cup in St. Albans, $40,000.
Financing of $500,000 was also approved through the VEDA's Jay/Burke Contractor Assistance Loan Program, which provides loans for affected building contractors holding unpaid invoices for work done at Jay Peak and Burke Mountain Ski Areas.
The Vermont Economic Development Authority (VEDA) is Vermont's economic development finance lender, providing financing for Vermont businesses and farms. VEDA was created by the General Assembly in 1974 with a mission "to contribute to the creation and retention of quality jobs in Vermont by providing loans and other financial support to eligible and qualified Vermont industrial, commercial and agricultural enterprises."
Since 1974, VEDA has provided over $2.16 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, family farms, and agricultural enterprises, helping them to realize their business growth goals, create jobs, and enhance the vitality of Vermont's economy. For more information about VEDA, visit www.veda.org or call 802-828-JOBS.