MBAs And Entrepreneurs Thrive In Vermont

By the My MBA Career Content Team � Find Top MBA Degree Programs

MBAs and entrepreneurs are taking advantage of the opportunities the government has created in Vermont.

The federal Small Business Administration (SBA) has offered Vermonters loans since Congress made stimulus money available to help entrepreneurs about six months ago, according to WCAX.com.

"We made 196 loans to small businesses in Vermont for about $38 million dollars, and that's up over 50 percent in terms of numbers of loans made from last year for the same period and over 100 percent in terms of dollars," said the SBA's Darcy Carter to the website.

Loans awarded as a result of the federal stimulus package are not like regular bank loans, as they don't require much collateral.

Peter Crosby, the president of a local bank, said that SBA applicants just need to be credit worthy and organized. Banks will only work with applicants who have a business plan and some business sense.

According to the Vermont Economic Development Authority, an eligible borrower must be developing a for-profit business located in the U.S. and worth no more than $8.5 million. If you've always wanted to start your own company but don't have the business skills, consider enrolling in an MBA program today.

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