VT Community Loan Fund Financing Brings New Ownership to Montpelier Business

The Vermont Community Loan Fund loaned over $5,560,000 to Vermont’s small businesses,
child care programs, community facilities and affordable housing developers in the second and
third quarters of 2017. “The Loan Fund is proud to help finance and support these innovative
entrepreneurs, child care programs, community facilities and affordable housing developers,”
said Executive Director Will Belongia. “These programs and projects are creating jobs, homes,
opportunity, and financial stability for Vermonters across the state,” he added.

 

Among the organizations and businesses financed was the Drawing Board in Montpelier:

The Drawing Board, Montpelier*
The Drawing Board, artist supply store and long a fixture on Main Street in Montpelier, is
transitioning to new ownership. Longtime employee and minority owner Liz Walsh will
purchase the business in full, using financing from the Loan Fund to do so. The loan preserves
five jobs. www.thedrawingboardvt.com

*A previous version of this press release incorrectly identified the Drawing Board’s new
owner as Jody Brown. Brown sold the business to longtime employee Liz Walsh, who is now
the Drawing Board’s full owner.

 

Since 1987, the Vermont Community Loan Fund has loaned over $100 million to local
businesses, affordable housing developers and community-based organizations that has created
or preserved 5,600 jobs; built or rehabilitated 4,000 affordable homes; created or preserved
quality care for over 3,850 children and their families; and supported community organizations
providing vital services to hundreds of thousands of Vermonters.

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