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 Barbara Petrie, Loan Coordinator, at barbara@vclf.org or (802) 223-4425.
BASIC ELIGIBILITY
Vermont nonprofit organizations, for-profit organizations and individuals who:
- 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 interest rate is 6%.
- 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 25 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 $1 million.
HOW TO APPLY
We encourage you to speak with us before submitting a loan application. Please contact Barbara Petrie, Loan Coordinator, at (802) 223-4425 for more information.
BASIC ELIGIBILITY
Vermont nonprofit organizations, for-profit organizations and individuals who:
- 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 interest rate is 6%.
- 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 25 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 $1 million.
HOW TO APPLY
We encourage you to speak with us before submitting a loan application. Please contact Barbara Petrie, Loan Coordinator, at (802) 223-4425 for more information.
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