Ed Shamy buys The County Courier in Enosburg Falls

first_imgEd Shamy buys The County Courier in Enosburg FallsNorthern Vermont Lending Partners (NVLP), a revolving micro-loan program of the Economic Development Council of Northern Vermont, designed to assist small businesses, provided a loan to Ed Shamy and his wife, Kimberly Asch to help them purchase The County Courier in Enosburg Falls.The news hit uncomfortably close to home for veteran journalist Ed Shamy when he was laid off from his job at Vermont’s largest daily newspaper in August. Shamy and his family were eager to stay in Vermont, where they have made their home for 10 years, but the job outlook was weakening quickly.When a weekly newspaper in Franklin County came up for sale, Shamy jumped at the opportunity but soon ran into another financial reality: the credit pipelines were in a deep freeze and a commercial bank turned down his request for a loan to buy the 130-year-old newspaper.He turned to the Economic Development Council of Northern Vermont and their micro-loan programs, Northern Vermont Lending Partners. This Program provides short-term, fixed rate loans of $35,000 or less to start-up, newly established, or growing small businesses requiring financing for working capitol, inventory, machinery and equipment. To ensure success of each new loan, technical assistance is provided at no charge to the borrower throughout the term of the loan. EDCNV operates another micro-loan program, MicroBusiness Loan Program and a larger revolving loan fund, The Fund, which participates in conjunction with other lenders to provide loan requests of $100,000 or less.The EDCNV loaned Shamy the money he needed to buy the County Courier. He is now the publisher and the editor of the venerable weekly newspaper, and he’s still in Vermont!To learn more about EDCNV’s loan programs or to hear more of Ed Shamy’s story, contact Donna Reed at the EDCNV at 802-524-4546.last_img

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