On January 15th Morgan Rilling, loan officer from Yankee's White River Junction office, attended a workshop for the new Microloan Fund for New England Farmers. The Microloan Fund is a joint project of Strolling of the Heifers and The Carrot Project. It will be administered by Chittenden Bank. The Microloan Fund was created to address the difficulty that some New England farmers have faced in obtaining credit. (See this earlier post.) The Microloan Fund will offer loans in amounts of $1,000 to $10,000, with a primary focus on small to mid sized operations that use sustainable or organic methods.
The purpose of the workshop was to promote the program and to answer questions that potential applicants may have. Morgan gave a presentation on the 5 C's of credit and when credit is appropriate for businesses. Morgan is serving on the loan committee that will be reviewing the applications.
For more information about the Microloan Fund please contact Dorothy Saput.
