VEDA & ACEDC Jointly Offer Financing to help Nathaniel Group Expand
Through the Entrepreneurial Loan Program, VEDA (the Vermont Economic Development Authority) recently approved working capital financing for several businesses throughout the state. This program helps meet the working capital and capital-asset financing needs of Vermont-based start-up and growth-stage businesses that may not have access to conventional means of financing. Approvals by VEDA for entrepreneurial working capital financing assistance were offered to ACEDC member Nathaniel Electronics, in Vergennes for $200,000 to help Nathaniel Group move their newest products to market. In existence since 1984, Nathaniel Group designs, manufactures and services electro-mechanical devices, including medical equipment for surgical applications, as well as cameras and LED and Laser light sources for medical and scientific markets around the world. The company has fifteen full-time employees, and expects to increase that number to 21 within three years of the project. ACEDC also offered $50,000 from their revolving loan program to help finance this project.