Vermont Small Business Loans

Being an entrepreneur in the Green Mountain State can be costly at times. Whether you run a seasonal business or operate year-round, your bank account may experience ebbs and flows. 

When you’re in need of capital, here are a few lenders to consider for Vermont small business loans, including SBA loans. Discover organizations that can offer business support and resources, too.

According to the Small Business Administration (SBA), Vermont is home to more than 79,000 small businesses, accounting for 99% of all businesses in the state. Additionally, they employ more than 60% of workers. 

Some of the biggest industries include the following:

• Agriculture
• Forestry
• Tourism
• Manufacturing
• Mining

1. Berkshire Bank

Berkshire Bank is accredited with the Better Business Bureau (BBB), where it’s also earned the organization’s A+ rating. If you’re looking for SBA Vermont loans, consider this lender, which offers SBA Express loans and lines of credit. Other available business lending options include:

• Equipment financing
• Asset-based lending
• Business credit cards
• Commercial business loans
• Commercial real estate loans

2. KeyBank

If you’re looking for SBA lenders in Vermont, KeyBank is another option. This financial institution offers the following SBA financing:

• 7(a) loans
• 504 loans
• SBA Express
• Working capital CAPline
• SBA international trade loans

Other funding options available include:

• Business term loans
• Equipment financing
• Business real estate financing
• Business lines of credit

3. Community National Bank

Community National Bank is A+ rated with the BBB. This lender also has a 3.8-star rating on SmartAsset. Available financing options include:

• Lines of credit
• Business credit cards
• Equipment loans
• Construction loans
• Commercial term loans
• Commercial real estate loans

4. National Bank of Middlebury

This bank was founded in 1831 and today it’s earned 4 stars on Google reviews as well as a 4.3-star WalletHub rating. Locations are available in Middlebury, Brandon, Bristol, Hinesburg and Vergennes, where you can find these Vermont small business loans:

• Commercial term loans
• Commercial real estate loans
• Commercial construction loans
• Revolving lines of credit 
• Business credit cards
• Letters of credit

5. Union Bank

Union Bank has loan centers in Newport and South Burlington. It’s earned a 4.5-star Facebook rating and a 3.9-star SmartAsset rating. If you’re looking for SBA loans in Vermont, you’ll find them here, as well as these funding options:

• Business credit cards
• Business term loans
• Business lines of credit
• Commercial real estate loans

Get Your Business Loan Faster

In addition to conventional lenders, such as the banks noted above, many small business owners are applying with online nonbank lenders. 

These lenders are able to offer alternative funding products, such as merchant cash advances, that don’t have the restrictive qualifications seen with many bank loans. They’re also quick to fund, thanks to electronic underwriting and typically no need for specific collateral. 

Because more entrepreneurs qualify for alternative financing, lenders offset their risk with shorter repayment terms, higher interest rates and more frequent payments. In contrast, if you have good credit, collateral to offer and time on your side, you may prefer a conventional business loan.

• Applying for Vermont Business Financing Through Fast Capital 360

  If you’d like to apply for Vermont SBA loans or another type of financing, we can help. 

  Our online lending marketplace offers these benefits:

  Speed

  A few minutes is all it takes to complete our simple, secure online application (which doesn’t impact your credit). 

  Multiple Offers

  We work with lending partners throughout the country to make sure we’re able to offer a wide variety of business owners access to funding. What’s more, your single application could return several offers. 

  Expert Guidance

  A Fast Capital 360 Business Advisor will be in touch to go over your offers with you. Review the details and choose the best option for your business. 

In addition to financing support, why not reach out to organizations dedicated to helping entrepreneurs in other facets of business as well? Here are a few you can turn to for tools and assistance.

SCORE

For 6 decades, this nonprofit has been operating branches throughout the U.S. Vermont SCORE earned the organization’s Platinum Chapter Excellence Award in 2020 and was recognized as the Northeast Region’s Most Improved Chapter of the Year. 

Entrepreneurs can take part in no-cost mentoring sessions, workshops and webinars or access online resources, such as document templates, videos and articles.  

Branches are located here: 

• Burlington
• Middlebury
• Rutland
• Montpelier
• Saint Albans
• St. Johnsbury

Center for Women & Enterprise

Since 1995, this nonprofit has helped more than 46,000 small business owners. It also runs the Veterans Business Outreach Center of New England. Startup and seasoned entrepreneurs can take advantage of education, training and technical assistance. The center offers live webinars, self-paced business programs and instructor-led courses.

Vermont Small Business Development Center

Sponsored in part by the SBA, Vermont’s Small Business Development Center has been offering free business advising, training, workshops and small business resources since 1992. In 2021, the center helped 49 businesses open. Assistance is available with the following:

• Financing
• Startup planning
• Growth strategies
• Operations 
• Sales and marketing
• Financial management