Last week, Molly Lambert, State Director of the Vermont Rural Development State Office, (RD) joined me in hosting the state’s first “Intermediary Relending Program and Creative Financing Roundtable.” Meeting participants, including leaders from Vermont’s economic and community development centers, met at the Vermont Economic Development Authority office located in Montpelier, Vermont.
The purpose of the meeting was to explore ways to promote the distribution of more than $5 million in funds to Vermont’s rural small business entrepreneurs using the U.S. Department of Agriculture’s (USDA) Intermediary Relending Program (IRP). These enthusiastic participants, who have keen insight into the state’s industries and barriers to capital, learned that working collaboratively will benefit all Vermont communities.
During the opening part of the meeting, staff from the Vermont USDA State Office gave the state’s Intermediary Relending providers updates on the administration of IRP loans. The session then moved to a discussion of trends, observations, and economic opportunities for the small businesses in their respective areas.