Sign Up for Our Email Newsletter!

Please enter your email address below.


News Detail

NCIC Offers Cost Sharing to Northern NH and VT Businesses

FOR IMMEDIATE RELEASE
Contact Information:
Karl Stone: 603-788-2700 x2143
Email: kstone@NCIC.org

NCIC BUSINESS SUPPORT SERVICES COST SHARING PROGRAM AVAILABLE FOR NORTHEASTERN VERMONT AND NORTHERN NEW HAMPSHIRE SMALL BUSINESSES

ST JOHNSBURY, VT, JUNE 2015 – Northern Community Investment Corporation (NCIC) recently received an award from the United States Department of Agriculture (USDA-RD) Rural Business Enterprise Grant (RBEG) Program. The project will provide funding for business support services for small and emerging businesses in Northeastern Vermont (Caledonia, Essex and Orleans counties) as well as, Northern New Hampshire (Coos, Grafton and Carroll counties).

The project allows NCIC to help small businesses who may benefit from professional consulting with service financing. Examples of business support services include energy efficiency audits/design, education and training, marketing and sales strategies, engineering and architectural reports, permitting assistance, finance and accounting, website development and feasibility studies.

Participating businesses would be responsible for at least 30% of the total project cost and must provide funds prior to commencement of the work by the consultant. Grant funds can pay for up to 70% of project cost, upon satisfactory completion of the project. USDA RBEG Funds can only be used for small businesses with 50 or fewer employees and generally less than $1,000,000 gross profit.

Interested businesses need to complete an application, provide a plan and appropriate financial information. All applications should clearly describe how the project will enable the business to improve, expand, and increase employment opportunities. NCIC will then review the application, USDA concurrence is required for grant approval. If an application is accepted and approved, NCIC can assist in developing a Request for Proposals, and help solicit proposals from qualified firms. The business will select a consultant and NCIC will manage the project and coordination. Businesses are encouraged to apply within the next 30 days to ensure project completion before the funding deadline.

For further information, questions, or application please contact: Mike Welch, NCIC Project Manager: 802-748-5101 ext. 2025 or mwelch@ncic.org.

This project is funded by Northern Community Investment Corporation through a Rural Business Enterprise Grant (RBEG) from USDA Rural Development. NCIC is an equal opportunity employer, lender and provider. Funding from this program is provided without regard to sex, marital status, race, color religion, national origin, age, physical or mental disability, receipt of income from public assistance or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

Established in 1975, NCIC is a non-profit, certified Community Development Financial Institution working to address regional economic challenges. NCIC responds to the needs of individual businesses and communities through: expanding high-speed Internet access, promoting tourism, finding affordable energy solutions, and offering businesses of any size financial solutions and support services. NCIC serves New Hampshire's Carroll, Coos and Grafton Counties and Vermont's Caledonia, Essex and Orleans Counties. NCIC offices are located in Lancaster, NH and St. Johnsbury, VT. For more information visit: www.ncic.org.