WILMINGTON-WheelPad L3C, a Wilmington-based company, designs and builds modular, accessible living spaces for people with mobility challenges - including veterans, individuals recovering from injuries, and older adults who wish to age in place. As the company prepared for growth and increased demand, it became clear that expanding its physical space would require the right partners and resources.
WheelPad has helped countless people modify their homes to better suit their needs - so when it came time to expand their own "home," they turned to the Brattleboro Development Credit Corporation (BDCC) for help. Working together through the Vermont Economic Development Authority (VEDA) Sub-3 loan program, BDCC purchased the Druke property at 211 Route 9 West in Wilmington on WheelPad's behalf.
The Sub-3 program enables regional development corporations to secure financing for real estate projects that support local job creation and business expansion.
"This expansion allows us to increase our impact and better serve individuals and families who need accessible housing solutions," Julie Lineberger, CEO and founder of WheelPad, said in a news release. "Our entire team is grateful to BDCC, VEDA, and the state of Vermont for believing in our mission and helping us take this next step."
WheelPad now leases the building from BDCC through an agreement that includes occupancy costs - such as taxes, insurance, and maintenance- plus the loan payments amortized over seven years.
This structure keeps monthly costs manageable and gives WheelPad the option to purchase the property in the future, once it aligns with the company's growth and financial strategy. It's like a rent-to-own model, but without added profit or markup - every payment supports the eventual transfer of ownership.
Recognizing the importance of safe industrial infrastructure, BDCC collaborated with the Windham Regional Commission's Brownfields program to conduct environmental assessments of the property.
Environmental assessments and potential mitigation can often be a major barrier to business expansion, as the process can uncover unforeseen issues and carry significant costs, according to the news release. This partnership ensured the site met current safety standards, facilitating WheelPad's seamless transition into the new space.
Over the course of a six-year relationship, BDCC has also helped WheelPad navigate state and federal programs that support business growth.
In summer 2024, the Vermont Department of Economic Development toured the facility and explored options for state support, including the Vermont Training Program and the Rural Industry Development Program (RIDP). While WheelPad didn't qualify for all programs, BDCC secured a $240,000 RIDP patient capital investment to help fund the property acquisition.
Combined with the VEDA Sub-3 loan, that grant allowed BDCC to shoulder the upfront risk of property ownership.
For more information about WheelPadL3C, visit wheelpad.com. To learn more about BDCC's work, visit brattleborodevelopment.com.
This Town and Village item was submitted to The Commons.