We believe that we make our communities stronger when we work to preserve and enhance the vital community organizations that make life in Vermont so special.
We make loans to community organizations and facilities that provide essential services and opportunities to Vermonters, including rural health centers, youth/family organizations, recreational centers, elder care facilities, arts organizations, preservation organizations, historical societies & other cultural organizations. Whenever possible, we partner with traditional lenders, philanthropic organizations and other community resources to make the deal happen.
We make loans to community organizations and facilities that provide essential services and opportunities to Vermonters, including rural health centers, youth/family organizations, recreational centers, elder care facilities, arts organizations, preservation organizations, historical societies & other cultural organizations. Whenever possible, we partner with traditional lenders, philanthropic organizations and other community resources to make the deal happen.
How To Apply
Please contact Heather Hurlbert, Director of Housing and Community Facilities Programs, at heather@vclf.org or 802-223-4424 for more information.
BASIC ELIGIBILITY
Vermont nonprofit and for-profit organizations that:
- Provide vital community services
- Benefit Vermonters earning less than 80% of the median income
- Are unable to obtain credit at reasonable rates and terms
ACCEPTABLE USES
- Real estate acquisition
- Construction
- Rehabilitation
- Bridge financing
- Equipment purchase
RATES AND TERMS
- Current rates start at 5% and vary according to project focus & duration, potential for social impact and strength of your proposal.
- Terms range from a few months up to 5 years, with extensions generally permitted for another 3 to 5 years. Amortization may be scheduled for up to 40 years.
- There is an application fee of 0.5% of the total loan amount or $350, whichever is greater. There is an origination fee of 1% of the total loan amount due at closing; the application fee is credited towards this closing fee.
COLLATERAL
Collateral is required on financed assets. Additional collateral may also be required.
MAXIMUM LOAN AMOUNT
The current maximum loan amount will not exceed $2 million.
HOW TO APPLY
We encourage you to speak with us before submitting a loan application. Please contact Heather Hurlbert, Director of Housing and Community Facilities Programs, at heather@vclf.org or 802-223-4424 for more information.
BASIC ELIGIBILITY
Vermont nonprofit and for-profit organizations that:
- Provide vital community services
- Benefit Vermonters earning less than 80% of the median income
- Are unable to obtain credit at reasonable rates and terms
ACCEPTABLE USES
- Real estate acquisition
- Construction
- Rehabilitation
- Bridge financing
- Equipment purchase
RATES AND TERMS
- Current rates start at 5% and vary according to project focus & duration, potential for social impact and strength of your proposal.
- Terms range from a few months up to 5 years, with extensions generally permitted for another 3 to 5 years. Amortization may be scheduled for up to 40 years.
- There is an application fee of 0.5% of the total loan amount or $350, whichever is greater. There is an origination fee of 1% of the total loan amount due at closing; the application fee is credited towards this closing fee.
COLLATERAL
Collateral is required on financed assets. Additional collateral may also be required.
MAXIMUM LOAN AMOUNT
The current maximum loan amount will not exceed $2 million.
HOW TO APPLY
We encourage you to speak with us before submitting a loan application. Please contact Heather Hurlbert, Director of Housing and Community Facilities Programs, at heather@vclf.org or 802-223-4424 for more information.
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