With start-up support from the State of Vermont’s Working Lands Enterprise Initiative, the Vermont Community Loan Fund’s SPROUT Deferred Payment Loan Program meets the financing needs of working lands entrepreneurs who might not otherwise be eligible for a VCLF loan.
Eligible businesses include (but are not limited to):
- Farms & other agricultural operations
- Food processors & producers
- Foresters & forest products businesses
Preference will be given to start-up or early-stage operations with demonstrated or projected growth. The ideal SPROUT applicant will be a business playing a central role in a local or regional supply chain proposing to undertake a significant growth opportunity, such as the development of a new product or expansion into a new market.
Rates and Terms
SPROUT offers deferred-payment, low-interest loans of up to $60,000. Terms range from two years to ten years. SPROUT loans will feature two years of 0% interest/no payments, and a fixed 2% interest rate thereafter.
Sometimes VCLF borrowers need more than just a loan. Technical assistance - consulting, training and counseling – is a key component of our work to foster and support our borrowers’ success. Much of that technical assistance is provided “in-house” by VCLF’s dedicated TA staff. We also regularly contract with or provide referrals to third-party sources if we believe their expertise is the best fit for a borrower’s unique operating environment and needs.
SPROUT financing will be augmented with business development technical assistance and consulting tailored to meet each borrower’s specific needs, free-of-charge.
How To Apply
SPROUT is made possible by generous support from the Working Lands Enterprise Initiative.