Loan helps launch local school
WILMINGTON - The Vermont Community Loan Fund, a 501(c)(3) nonprofit, mission-driven lender, loaned $1,580,000 to Vermont nonprofits and small businesses during the fourth quarter of 2021, including to Beaver Brook Children’s School.
Wilmington had never had its own child care center. When early care and learning professional Julie Koehler found the ideal location for a much-needed preschool program at the Old School Community Center, she jumped at the chance, launching Beaver Brook Children’s School. She used VCLF financing as a bridge loan to cover payroll and operating costs while awaiting payment from supervisory unions for universal pre-K services. The loan helped preserve 30 child care slots and 10 jobs.
The VCLF’s goal is to provide support via loans and business advisory services to help borrowers create and preserve Vermont jobs, to increase the quality and quantity of Vermont’s early care and learning programs, and to help create and preserve safe and affordable Vermont homes.