UVEC awards second loan to Sherman resident

    SHERMAN — The Upper Valley Economic Corp. has awarded Donald McGraw Jr. of Sherman a loan in the amount of $20,000 from its Revolving Loan Fund.
    McGraw is starting a metal fabrication business in Sherman. He approached UVEC about its RLF program and submitting an application for funds for working capital. Donald intends to hire three full time workers once his business is up and running. This is the second loan awarded from UVEC’S program totaling $32,500.
    The purpose of UVEC’s revolving loan fund is to provide capital to small businesses unable to obtain credit through conventional sources. Minority entrepreneurs, woman business owners and self-employed individuals with limited incomes. UVEC has partnered with the Machias Savings Bank in Houlton, a financial and community leader since 1869, to assist with the administering of the funds.
    UVEC is excited to be able to assist this new emerging business in Sherman that will offer employment for surrounding residents and provide a much needed service to our local area.
    Anyone interested in this program should contact Jeff Packard at the UVEC Office located in the Sherman Municipal Building, Monday-Friday, 8 a.m. to 1 p.m. or by calling 365-7631, visiting  www.uvec.org or e-mailing uvec@fairpoint.net.