I needed to know whether this could be a viable business. I didn't quite know where to begin...that's when I contacted VCLF. They came to visit me, gave me all the resources to get started, and helped me get past all the hurdles. And here we are!
VCLF's Agritourism Loan Program is a revolving loan fund where you may access financing of up to $50,000 at low interest rates. The program focuses on supporting new or existing agricultural enterprises by providing low cost capital for agritourism related projects that help them enhance and diversify their revenue streams.
Terms range from several months to 20 years, are project specific and based on the project need and strength of the proposal. Fixed interest rates of between 3%-5% depending on purpose of the loan and strenth of the application.
A $50 application fee is due at the time the loan request is submitted. An origination fee of 1% of the loan amount, a $125 documentation fee and associated filing fees are due upon closing. In some cases, origination and closing fees may be financed.
If your project is greater than $50,000 or is ineligible for Agritourism funding, VCLF also has loan funds available at slightly higher interest rates (currently 7% for general agricultural purposes).
We encourage you to speak to a loan officer before submitting a loan application.
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