The town of Bennington, Vt., is looking at boosting the amount people can borrow under its business loan program.
The proposed change would allow people to borrow from $25,000 to $100,000 to start or expand a business.
Officials tell the Bennington Banner the language and requirements of the existing municipal loan program date back to the late 1990s. They said commercial banking and lending requirements have changed a lot since then.
The town is also looking to update the application process, too. The town would require a full business plan and information on collateral that applicants are putting up against the loan.
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