VERNON — It seems to me that the reason this money has been provided for the Windham County Revolving Loan Fund is to lead to immediate job creation.
With this goal, it is important to have a good portion, or at least most of the fund, available as grants, not loans, especially to new or growing businesses that actually create new jobs.
Focusing on the people and towns most affected makes sense, too. Dot-com businesses such as mine have actually created good jobs right in Vernon, for example. Lack of a physical business space in Vernon has forced it to move to Brattleboro, though. (Thank you, Brattleboro Development Credit Corporation, for providing the space we needed.)
My business is established, so I am not looking for a loan or grant myself, but from my own experience, I do understand some of what has to happen for a young business to grow and create jobs.
It takes years to slowly build a business and create jobs while servicing debt. A young business is already leveraged, and there already are loan sources.
Carefully selected grants would allow for a business to take itself to the next level faster - much faster - which immediately creates jobs to help mitigate the loss of work in the community.
Entrepreneurs and innovators are here in Windham County, and they are the ones creating jobs for real. Grant money would save many years and thus directly result in new jobs right away, and that is what does help sustain the economy over the long term.
This money is not intended to just be a loan fund in perpetuity. It is about creating new jobs now. Grants are an appropriate use of this fund.