Staff report
The Rutland Economic Development Corporation (REDC) can provides assistance to area businesses that have been impacted as a result of Covid-19.
“Over the past few weeks, we’ve been working diligently for all of you to better understand the impacts of Covid-19 as the situation develops,” wrote Tyler Richardson, REDC executive director, and Kim Rupe assistant director, in a letter to area businesses April 16. “We’ve been reaching out to our business members to check in with them, hear the impacts they’re facing, and see how we might be able to help in the near and long term…
“We’ve been working with USDA to approve REDC’s Covid-19 Emergency Loan Program leveraging funds through our existing Revolving Loan Fund. Be on the lookout for additional details very soon, but in the meantime contact us for more information. And visit our website for information on our existing loan program,” Richardson and Rupe wrote.
REDC provides fixed rate loans through its Revolving Loan Fund. Loans are typically between $5,000 – $150,000, but can be more.
Additionally, Vermont’s 12 regional development corporations, including REDC, have sent a letter to the Congressional delegation thanking them for their work to date and identifying several issues, concerns, gaps, and unmet needs and offering suggestions to consider for additional relief legislation.
Although the REDC office is closed services remain available for our Rutland County businesses. Visit REDC’s Covid-19 resource page for businesses at: rutlandeconomy.com/covid19. For information about additional economic opportunities and incentives in the Rutland area visit: rutlandeconomy.com/financial.
