Two regional businesses are the latest beneficiaries of the VVREO Revolving Loan Fund. Galina Fine Jewelers of Cottonwood, a 10-year old retail operation, will use a loan to increase inventory, make store improvements and upgrade its marketing. RC Autoglass AZ, also of Cottonwood, will bridge expenses between business launch and receiving customer payments.
Matt Rinaldi the business owner of RC Autoglass AZ commented, “Working with VVREO has been great, and I have and will continue to refer people to them. The money helped us get much needed equipment and supplies to help us get up and running. The timing was crucial with the tint season as well as high glass traffic.”
The Revolving Loan Fund program, offered by the Verde Valley Regional Economic Organization (VVREO), is designed to help entrepreneurs and small business owners who would like to start, relocate or expand an existing business.
The program 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 to four years and is available to businesses when conventional funding has been denied.
All of the Verde Valley communities work together to foster economic growth in the Verde Valley through programs such as the revolving loan, business capacity building and education.
To date, seven Verde Valley businesses have received VVREO loans. Funding for the program is provided by the U.S. Department of Agriculture.
Businesses who are interested in the program can contact VVEO’s Revolving Loan Fund Director, Mary Chicoine, at 928-300-1640 or email@example.com.
Visit vvreo.com on the Web.