We believe that local businesses power our state's economic engine.

Yes, they provide goods and services and yes, they keep our downtowns and countryside vibrant and thriving, but the most important product of any small business is quality jobs. It's a goal shared by employers and employees alike, and one we help them to achieve.

We work with businesses of all shapes, sizes and ages, ranging from start-up to mature, small farms to specialty foods, renewable energy to high-tech, manufacturers to service providers to retail.

Need more than just a loan? Our Business Resource Center provide comprehensive business development assistance to make sure you have access to the skills and planning you need for your business to succeed.

The Food, Farms & Forests Fund provides flexible financing to farmers, food producers and natural resources entrepreneurs. We also have loan & technical assistance program dedicated to agritourism.

If you're interested in leasing specialized food production equipment, we've partnered with the Center for an Agricultural Economy and the Mad River Food Hub to offer the Vermont Equipment Access Program. Download the VEAP brochure here.

Yes, they provide goods and services and yes, they keep our downtowns and countryside vibrant and thriving, but the most important product of any small business is quality jobs. It's a goal shared by employers and employees alike, and one we help them to achieve.

We work with businesses of all shapes, sizes and ages, ranging from start-up to mature, small farms to specialty foods, renewable energy to high-tech, manufacturers to service providers to retail.

Need more than just a loan? Our Business Resource Center provide comprehensive business development assistance to make sure you have access to the skills and planning you need for your business to succeed.

The Food, Farms & Forests Fund provides flexible financing to farmers, food producers and natural resources entrepreneurs. We also have loan & technical assistance program dedicated to agritourism.

If you're interested in leasing specialized food production equipment, we've partnered with the Center for an Agricultural Economy and the Mad River Food Hub to offer the Vermont Equipment Access Program. Download the VEAP brochure here.

GENERAL BUSINESS PROGRAM ELIGIBILITY

  • Support sustainable local economies
  • Conserve or expand economically viable uses of Vermont's working landscape and/or natural resources
  • Increase economic opportunities for low-income, disenfranchised or underemployed Vermonters through the creation of livable-wage jobs and quality workplaces

ACCEPTABLE USES

  • Real estate mortgages
  • Fixed-asset financing
  • Permanent working capital
  • Lines of credit
  • Purchase order financing
  • Restructured debt
  • Subordinated debt

RATES AND TERMS

  • The current average rate is 7.5%; rates are determined on a case-by-case basis.
  • Terms range from several months up to 20 years, and are typically fully amortized.
  • Flexibility in term, rate and repayment schedule is project-specific and based on project need and strength of proposal.
  • There is an application fee of $50. An origination fee of 1% of the total loan amount and a loan documentation fee of $125 are both due at closing. Expenses incurred for the recording of collateral documentation and anticipated discharge of such documentation are also due at closing.

COLLATERAL

  • Collateral is required to include a security interest in fixed assets, inventory and receivables. VCLF may also require security in the form of personal guarantees, collateral on personal assets or a cosigner.

MAXIMUM LOAN AMOUNT

  • The current maximum loan amount will not exceed $350,000.

HOW TO APPLY

We encourage you to speak with us before submitting a loan application. Please contact Bonnie Smoren, Loan Coordinator, at (802) 224-9141 for more information.

  • VCLF Business Program Loan Application, MS Word or PDF

GENERAL BUSINESS PROGRAM ELIGIBILITY

  • Support sustainable local economies
  • Conserve or expand economically viable uses of Vermont's working landscape and/or natural resources
  • Increase economic opportunities for low-income, disenfranchised or underemployed Vermonters through the creation of livable-wage jobs and quality workplaces

ACCEPTABLE USES

  • Real estate mortgages
  • Fixed-asset financing
  • Permanent working capital
  • Lines of credit
  • Purchase order financing
  • Restructured debt
  • Subordinated debt

RATES AND TERMS

  • The current average rate is 7.5%; rates are determined on a case-by-case basis.
  • Terms range from several months up to 20 years, and are typically fully amortized.
  • Flexibility in term, rate and repayment schedule is project-specific and based on project need and strength of proposal.
  • There is an application fee of $50. An origination fee of 1% of the total loan amount and a loan documentation fee of $125 are both due at closing. Expenses incurred for the recording of collateral documentation and anticipated discharge of such documentation are also due at closing.

COLLATERAL

  • Collateral is required to include a security interest in fixed assets, inventory and receivables. VCLF may also require security in the form of personal guarantees, collateral on personal assets or a cosigner.

MAXIMUM LOAN AMOUNT

  • The current maximum loan amount will not exceed $350,000.

HOW TO APPLY

We encourage you to speak with us before submitting a loan application. Please contact Bonnie Smoren, Loan Coordinator, at (802) 224-9141 for more information.

  • VCLF Business Program Loan Application, MS Word or PDF
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Danforth Pewter, Middlebury

Judi & Fred Danforth revived this 18th century family pewter business in Vermont in the mid-1970s. The Loan Fund has provided the financing to make it possible along the way, including the recent openings of two new retail stores in Portland, Maine, and Washington, D.C.

http://danforthpewter.com

Fog Lake Farms, Brookfield

An organic, grass milk dairy, Fog Lake Farms has used Loan Fund financing to purchase their 22-acre property, including pasture land and a new hay barn, as well as new farm equipment.

http://foglakefarms.com

Greenfield Highland Beef, Plainfield and Greensboro

Greenfield Highland Beef came to the Loan Fund via the Carrot Project for help purchasing a tractor and to refinance debt. They were named VT SBA's Family Owned Business of the Year in 2016.

http://greenfieldhighlandbeef.com

Hunger Mountain Coop, Montpelier

Relocating from a tiny storefront to their current 20,000-foot permanent home, Montpelier mainstay Hunger Mountain Coop came to the Loan Fund for helping financing their first point-of-sale system. Our Business Program's very first loan!

http://hungermountain.coop

Intervale Center, Burlington

The Intervale Center provides educational and entrepreneurial opportunities in sustainable agriculture through its incubation and apprentice programs. Over the years, they've worked with the Loan Fund to refinance debt and purchase farming equipment, fostering the next generation VT farmers.

http://intervale.org

Mamava, Burlington

With Mamava's innovative lactation suites for nursing and pumping mothers being installed in airports, sports stadiums and hospitals across the country, they came to the Loan Fund for a line of credit to support their booming business.

http://mamava.com

Northern Reliability, Waitsfield

Manufacturers of power storage systems servicing remote locations around the world, Northern Reliability used a VCLF line of credit to help support continued growth.

http://northernreliability.com

Vermont Bean Crafters, Moretown

Vermont Bean Crafters makes bean-based burgers and other plant-based products. They've used Loan Fund financing for various projects including equipment and inventory purchases.

http://vermontbeancrafters.com

Vermont Smoke and Cure, Hinesburg

Crafters of smoked meats and meat snacks, Vermont Smoke and Cure has worked with the Loan Fund to help fuel their growth, leading to relocation to their new Hinesburg facility with triple the space and thirteen new hires.

http://vermontsmokeandcure.com