Sedona AZ (February 22, 2017) – Entrepreneurs and small business owners looking to start, relocate or expand an existing business in Sedona are invited to take advantage of the Revolving Loan Program offered by the Verde Valley Regional Economic Organization (VVREO).
The city of Sedona and VVREO work together to foster economic growth in the Verde Valley through programs such as the revolving loan, business capacity building, and education.
The VVREO revolving loan offers small business owners competitive-rate loans of $25,000 or more to finance working capital; inventory and equipment; business acquisitions; renovations or the lease or purchase of real estate to site a business. A typical loan term is three years and this funding may be available even when conventional funding has been denied.
“We are here to help businesses create and keep jobs in our area,” says Sedona Economic Development Director and VVREO Board Member Molly Spangler. “The beauty of the revolving loan program is that it gives each business owner the flexibility to invest in the resources that best address their individual needs.”
To date, five businesses have received loans, leveraging additional private investment and creating new jobs. Prior recipients include an outdoor recreation business, a bed and breakfast, and a wine tasting room. Funding for the Revolving Loan Program comes from the U.S. Department of Agriculture.
The city of Sedona deepened its commitment to economic development in 2015, adding and expanding business support services under Spangler’s direction.
“I would love to be a ‘first stop’ for anyone who wants to start or grow a Sedona business,” she says. “Working with our city partners, we can help in so many areas that (are) important to success, including business planning, financial structuring, small business loans, marketing, and training.”
For information or to start your application, contact Sedona Economic Development Director Molly Spangler at 928-203-5117.