NORTHEAST KINGDOM – Northern Community Investment Capital (NCIC) is offering assistance in the form of a limited special loan program for businesses impacted by the flooding event of July 10 and July 11, 2024, in Essex, Orleans, or Caledonia Counties.
The low-interest financing opportunity is intended to help businesses get funds as quickly as possible for immediate flood recovery needs.
It involves a simplified application process: Borrowers may apply for up to $3,000 and the business must be located in Essex, Orleans or Caledonia counties; The interest rate is fixed at 2.50% for the life of the loan and there are no administrative fees.; The term is one month deferred payments followed by two years (24 months) of principal and interest payments; Borrowers must agree to sign up for automatic withdrawals (ACH payments.)
The program will remain available until all funds are expended or September 30, 2024, whichever comes first.
Send completed application by email to NCIC Vice President Peter Corey at [email protected]
The application and credit authorization forms can be accessed at the links https://www.ncic.org/wp-content/uploads/July-2024-VT-Flood-Relief-Loan-Program-Application.pdf
