ACEDC Approves Financing to 3 Local Businesses to Create 23 Jobs
ACEDC APPROVES BUSINESS FINANCING FOR
FULL SUN, VT FARM TABLE & GOOD POINT RECYCLING
The Addison County Economic Development Corporation (ACEDC) has recently approved financing that will allow 3 businesses to expand and create at least 23 new jobs in Addison County. Middlebury-based Full Sun Company and Good Point Recycling as well as Bristol-based VT Farm Table have all received loans through ACEDC’s revolving loan funds.
ACEDC will lend approximately $15,000 to Full Sun Company a specialty oil-seed processor. As a result of this investment in new equipment, Full Sun expects to create 3 new full-time jobs over the next three years. Beginning in early 2014, Full Sun began processing sunflower & non-gmo canola oil crops into edible oil and high-protein meal. These oils are distributed through local CSAs & farm stores, specialty food shops, health & wellness centers, and direct to chefs in the Northeast.
USDA revolving loan funds will be used to lend $38,000 to Vermont Farm Table, a local fine wood furniture maker. This financing is part of a $100,000 project with additional funding coming from the National Bank of Middlebury. As a result of this loan, Vermont Farm Table expects to create 10 full-time jobs over the next three years.
ACEDC will also use its USDA revolving loan funds to lend $40,000 to Good Point Recycling (aka American Retroworks, Inc), a local recycling firm, for working capital to expand production. This financing is part of a $90,000 project with additional funding coming from the Granite Development Corporation. Good Point Recycling expects to create 10 full-time jobs over the next several years.