From family farms and food trucks to affordable housing and early childhood education, the Vermont Community Loan Fund (VCLF) financed more than $8 million in mission-driven lending across the state in the first half of 2025.
These investments reflect VCLF’s commitment to create a just and thriving Vermont by supporting entrepreneurs, preserving and creating affordable housing, improving community infrastructure, and expanding access to essential services such as childcare and mental health.
“We’re grateful to support Vermonters across the state at a time when flexible, supportive financing is needed more than ever,” said Executive Director Will Belongia. “The way we create a stronger, more resilient Vermont is by investing in its people. Thanks to the impact investors and donors who make our work possible, that’s exactly what we’re doing.”
The capital VCLF lends is provided by “impact investors” who seek investment opportunities like VCLF that balance both financial and community returns.
“More than ever, people are deciding to invest in Vermont and in Vermonters through the Vermont Community Loan Fund,” says Director of Investment & Philanthropy, Jake Ide. VCLF began the year with a goal of raising $4 million in new impact investments in 2025. Through July, over $3.8 million was already in-hand. “Feeling anxious or powerless is a daily experience for many Vermonters right now. Investing in VCLF’s vision for Vermont is something folks can do to activate their privilege and their idle assets for the greater good. And feel good about it!” says Ide.
The need for affordable, flexible capital in Vermont is growing.
“With loans already closed, committed, and in the pipeline, we’re on track to exceed both our annual goal and last year’s record of $15.5 million,” said Belongia. “To meet the demand, we're seeing in communities across the state, we're actively seeking new impact investors to help us be part of the solution."
The following projects highlight the breadth and impact of VCLF’s work so far this year:
Business Lending
Three Mountain Café, Waitsfield
Professional chef Kayla Kenney and Nicholas Bradley purchased longtime Mad River Valley favorite, Three Mountain Café. With support from VCLF, they are continuing the café’s popular coffee and pastry service while expanding catering offerings and creating community events. The loan preserves five jobs, creates one new position, and supports a woman-owned business. threemountaincafe.com
Temple Chiropractic, Bellows Falls
Dr. Taronté Venable used a VCLF loan to obtain ownership of Temple Chiropractic, where he had already been a practicing provider. With more than a decade of experience, Dr. Venable continues to deliver trusted chiropractic care for residents of Springfield, Brattleboro, and beyond. The loan preserves five jobs and supports a locally owned business in Windham County. templechiropractic.org
Walnut Hill Farm, Pawlet
Rico and Jill Balzano used their loan to repair an aging barn and grow the online presence of Walnut Hill Farm, where they raise pigs and craft artisanal charcuterie. With a strong presence at farmers markets and plans to expand e-commerce sales, the Balzanos continue to grow their value-added business. The loan preserves two year-round jobs and supports the stewardship of 168 acres of Vermont farmland. walnuthillfarmvt.com
Go Destroy Art, Wolcott
Zephan and Liz Courtney used their VCLF loan to outfit a new, purpose-built recording studio designed to support musicians, podcasters, and audio producers in Vermont and beyond. Tucked in a quiet rural setting, Go Destroy Art offers artists a high-end creative retreat with professional acoustics, cutting-edge equipment, and personalized support. The loan creates one job and supports a woman-owned business in Vermont’s creative economy. godestroyart.com
Jamaican Jewelz, Bellows Falls
Jamaican Jewelz, a beloved Vermont food truck and catering business, expanded into a brick-and-mortar restaurant in downtown Bellows Falls with help from a VCLF loan. Chef Jewelz has brought her signature Caribbean flavors to a new takeout-friendly space, increasing capacity and visibility while continuing to build a loyal following. The loan supports four full-time positions and a BIPOC woman-owned business located in a downtown area. jamaicanjewelz.square.site
Ward & Son Fire Equipment Manufacturers, Barre
Jim Ward is using his VCLF-supported loan to manufacture and market additional units of the Hoze Dolly, his patented tool to help firefighters safely and efficiently move heavy hoses. Designed to reduce injury and improve deployment speed, the Hoze Dolly has already been adopted by departments across the country. The loan supports a Vermont-made innovation to improve safety in emergency services. hozedolly.com
NEK Grains, Waterford
Fourth-generation farmers Shawn and Sara Gingue used their VCLF loan to expand NEK Grains, their family-run grain operation specializing in locally grown and milled wheat, barley, and flour. NEK Grains continues to grow as a hub for regenerative, value-added agriculture in the Northeast Kingdom and this loan would allow them to purchase necessary equipment for aerating, drying, and bagging grain products. The loan supports three jobs and preserves 600 acres of farmland. ginguefamilyfarm.com/nekgrains
PRAVI Nutrition, Burlington
PRAVI Nutrition is a Burlington-based e-commerce company offering clean, high-quality nutritional products, with goat whey protein as its flagship line. Founders Joe Galati and Armin Elezovic have grown the business sustainably, with over 1,500 satisfied customers nationwide. A new loan will help PRAVI scale by purchasing inventory in bulk and launching new products like an electrolyte mix and creatine supplement. pravinutrition.com
Homecoming Seeds, Northfield
With support from a VCLF loan, Charlie and Madison Watt launched Homecoming Seeds, a farm-based seed company focused on open-pollinated vegetables, herbs, and flowers adapted to cold, short-season climates. Their work preserves regional seed diversity while supporting a resilient local food system. The loan helped fund critical infrastructure and equipment, including a high tunnel, fencing, irrigation infrastructure, and more. instagram.com/homecomingseeds
Little Patakha, Jericho
Little Patakha is a BIPOC woman-owned children’s brand creating screen-free media that builds empathy, confidence, and curiosity through inclusive stories and diverse representation. With support from a VCLF loan, the company is scaling its successful Sponsor A School program, which brings educational books, games, and toys to elementary schools across Vermont and beyond. littlepatakha.com
Le Bon Goût, Winooski
Le Bon Goût brings the vibrant flavors of West Africa to Vermont with signature dishes like Jollof Rice, Puff Puff, and Egusi Soup with Fufu. Founded in 2024 by Elom Essiba, this woman- and immigrant-owned food business has quickly built a following through pop-ups, catering, and takeout. With support from VCLF, Le Bon Goût is scaling up: adding a commercial vehicle, launching a website and online ordering, expanding marketing, and sourcing ingredients in bulk. lebongoutwinooski.com
Whirligig Brewing, St. Johnsbury
Whirligig Brewing is a microbrewery and restaurant founded by Geoffrey Sewake in downtown St. Johnsbury. A Justice Forward Fund loan will help expand seating, upgrade the kitchen, and relocate brewing equipment to improve flow and service. With a new liquor license and an enhanced menu, Whirligig continues to grow as a vibrant community gathering space in the Northeast Kingdom. whirligigbrewing.square.site
Champlain Center for Play Therapy & Family Counseling, Essex Junction
Founded in 2024 by licensed clinical social workers Kaitlyn Wessels and Carolynn Nagao Marcotte, Champlain Center fills a critical gap in Vermont’s mental health system for both children and families. Loan funds will provide working capital to bridge the gap between service delivery and monthly grant reimbursements while supporting a woman- and BIPOC-owned business. kidstherapyvt.com
Zirko, Burlington
Javier Zirko has successfully run El Gato Cantina’s food truck for several years and is now stepping into ownership as the parent business winds down. With nearly 20 years in the food industry, he’s built strong partnerships with the University of Vermont, Colchester Parks and Recreation, and regional events. This loan supports his transition by helping him acquire the equipment and brand he’s grown, continuing the business under his own name.
Community Facilities Lending
Greenway Hub, Montpelier
Norwich Technologies formed a new entity to purchase and revitalize College Hall in Montpelier as a sustainability-focused commercial property for nonprofit, educational, and government tenants. The building will eventually become home to Greenway Institute, a nonprofit reimagining engineering education through a hands-on, work-based model. The project supports VCLF’s mission by increasing access to affordable, innovative education and advancing a more sustainable future. greenwayinstitute.org
New School of Montpelier, Montpelier
The New School of Montpelier is a worker-owned therapeutic independent school serving students with a range of disabilities, operating since 2005 with more than 100 students and staff multiple campuses. In 2024, the school completed the purchase of two long-leased buildings with financing from VCLF and other sources, to ensure long-term program stability. In 2025, VCLF partnered with the Cooperative Fund of the Northeast to support renovations to improve accessibility and better adapt the spaces for learning. nsmvt.org
Early Childhood Education Lending
Perkinsville Preschool and Childcare, Perkinsville
Perkinsville Preschool & Childcare is transitioning from a registered to a licensed home program, doubling capacity and expanding to serve infants and toddlers. The program will support 3 full-time jobs and meet critical demand for early care in the region. Located on 51 acres, PPC offers a nature-based, inclusive program and provides early childhood special education services. wonderschool.com/ref/6933
Housing Lending
H.V. Real Estate Holdings, Morrisville
Evernorth, through HV Real Estate Holdings, acquired Copley Terrace in Morrisville to preserve all 38 units of affordable, HUD-subsidized senior housing. The property is adjacent to medical facilities and well-suited for older adults, with project-based rental assistance that makes all units accessible to residents with low-incomes. This acquisition ensures long-term affordability and aligns with top state housing priorities for preserving at-risk, subsidized properties. evernorthus.org
Twin Pines Housing Trust, Woodstock
Twin Pines Housing will replace an aging, donated home in Woodstock with a new, energy-efficient modular home as permanently affordable shared equity housing. The three-bedroom home will serve a low to moderate-income household, with resale restrictions to preserve long-term affordability. This project adds to Twin Pines’ growing portfolio in the Upper Valley, addressing the region’s urgent need for more affordable housing. tphtrust.org
345 East St, Vergennes
Genevieve Smyth is rehabilitating a long-vacant, historic building in downtown Vergennes to provide affordable housing for individuals exiting homelessness, with referral support from local shelters. The building will be fully weatherized, partially restored, and modernized for safe, durable, and accessible use, contributing to local housing goals and zoning reform efforts.
Champlain Housing Trust - Bay Ridge Condos, Shelburne
Champlain Housing Trust secured a construction loan for Phase 3 of its Bay Ridge redevelopment in Shelburne, creating 26 permanently affordable shared equity homes. This final phase included construction of six townhome buildings and one accessible duplex, all built to high energy-efficiency standards and designed to serve buyers with low incomes. Located in a high-demand housing market, the project helped address Chittenden County’s severe shortage of affordable homeownership options. getahome.org
A.W. Richards Apartments, Brattleboro
A.W. Richards is a 21-unit affordable housing building in Brattleboro owned by a partnership between Brattleboro Housing Partnerships and Evernorth. The property serves predominantly residents with extremely low to low incomes and includes on-site amenities and one commercial tenant. Refinancing will improve financial stability and help prepare for needed HVAC upgrades or future energy efficiency investments. brattleborohousing.org
CDI Development Fund – Breezy Acres/Hillcrest, Colchester
CDI Development Fund will use a construction bridge loan to upgrade the electrical infrastructure at Breezy Acres Cooperative and Hillcrest Resident Owned Community, two resident-controlled mobile home parks in Colchester. The project will replace outdated and unsafe systems with modern, code-compliant service. These improvements will enhance safety, reduce energy costs, and support future electrification needs. cdi.coop
CDI Development Fund – North Ave Co-op, Burlington
CDI Development Fund will use a construction bridge loan for Phase One of a full water, sewer, and stormwater infrastructure replacement at North Avenue Cooperative, a 119-lot resident-controlled mobile home park in Burlington. The project will improve water quality, eliminate contamination risks, and reduce utility costs by replacing outdated systems and installing individual meters. New stormwater infrastructure will also bring the property into compliance with state regulations and improve climate resilience. cdi.coop
City of St. Albans
The City of St. Albans and Northwest Career & Technical Center are partnering to redevelop a blighted lot into a permanently affordable single-family home, built by high school students in the Building Trades program. A VCLF loan, from the Career Technical Education Revolving Loan Fund, supports the first phase of the project, including site prep and demolition. This hands-on learning opportunity addresses both the local housing shortage and workforce development. stalbansvt.com
From family farms and food trucks to affordable housing and early childhood education, the Vermont Community Loan Fund (VCLF) financed more than $8 million in mission-driven lending across the state in the first half of 2025.
These investments reflect VCLF’s commitment to create a just and thriving Vermont by supporting entrepreneurs, preserving and creating affordable housing, improving community infrastructure, and expanding access to essential services such as childcare and mental health.
“We’re grateful to support Vermonters across the state at a time when flexible, supportive financing is needed more than ever,” said Executive Director Will Belongia. “The way we create a stronger, more resilient Vermont is by investing in its people. Thanks to the impact investors and donors who make our work possible, that’s exactly what we’re doing.”
The capital VCLF lends is provided by “impact investors” who seek investment opportunities like VCLF that balance both financial and community returns.
“More than ever, people are deciding to invest in Vermont and in Vermonters through the Vermont Community Loan Fund,” says Director of Investment & Philanthropy, Jake Ide. VCLF began the year with a goal of raising $4 million in new impact investments in 2025. Through July, over $3.8 million was already in-hand. “Feeling anxious or powerless is a daily experience for many Vermonters right now. Investing in VCLF’s vision for Vermont is something folks can do to activate their privilege and their idle assets for the greater good. And feel good about it!” says Ide.
The need for affordable, flexible capital in Vermont is growing.
“With loans already closed, committed, and in the pipeline, we’re on track to exceed both our annual goal and last year’s record of $15.5 million,” said Belongia. “To meet the demand, we're seeing in communities across the state, we're actively seeking new impact investors to help us be part of the solution."
The following projects highlight the breadth and impact of VCLF’s work so far this year:
Business Lending
Three Mountain Café, Waitsfield
Professional chef Kayla Kenney and Nicholas Bradley purchased longtime Mad River Valley favorite, Three Mountain Café. With support from VCLF, they are continuing the café’s popular coffee and pastry service while expanding catering offerings and creating community events. The loan preserves five jobs, creates one new position, and supports a woman-owned business. threemountaincafe.com
Temple Chiropractic, Bellows Falls
Dr. Taronté Venable used a VCLF loan to obtain ownership of Temple Chiropractic, where he had already been a practicing provider. With more than a decade of experience, Dr. Venable continues to deliver trusted chiropractic care for residents of Springfield, Brattleboro, and beyond. The loan preserves five jobs and supports a locally owned business in Windham County. templechiropractic.org
Walnut Hill Farm, Pawlet
Rico and Jill Balzano used their loan to repair an aging barn and grow the online presence of Walnut Hill Farm, where they raise pigs and craft artisanal charcuterie. With a strong presence at farmers markets and plans to expand e-commerce sales, the Balzanos continue to grow their value-added business. The loan preserves two year-round jobs and supports the stewardship of 168 acres of Vermont farmland. walnuthillfarmvt.com
Go Destroy Art, Wolcott
Zephan and Liz Courtney used their VCLF loan to outfit a new, purpose-built recording studio designed to support musicians, podcasters, and audio producers in Vermont and beyond. Tucked in a quiet rural setting, Go Destroy Art offers artists a high-end creative retreat with professional acoustics, cutting-edge equipment, and personalized support. The loan creates one job and supports a woman-owned business in Vermont’s creative economy. godestroyart.com
Jamaican Jewelz, Bellows Falls
Jamaican Jewelz, a beloved Vermont food truck and catering business, expanded into a brick-and-mortar restaurant in downtown Bellows Falls with help from a VCLF loan. Chef Jewelz has brought her signature Caribbean flavors to a new takeout-friendly space, increasing capacity and visibility while continuing to build a loyal following. The loan supports four full-time positions and a BIPOC woman-owned business located in a downtown area. jamaicanjewelz.square.site
Ward & Son Fire Equipment Manufacturers, Barre
Jim Ward is using his VCLF-supported loan to manufacture and market additional units of the Hoze Dolly, his patented tool to help firefighters safely and efficiently move heavy hoses. Designed to reduce injury and improve deployment speed, the Hoze Dolly has already been adopted by departments across the country. The loan supports a Vermont-made innovation to improve safety in emergency services. hozedolly.com
NEK Grains, Waterford
Fourth-generation farmers Shawn and Sara Gingue used their VCLF loan to expand NEK Grains, their family-run grain operation specializing in locally grown and milled wheat, barley, and flour. NEK Grains continues to grow as a hub for regenerative, value-added agriculture in the Northeast Kingdom and this loan would allow them to purchase necessary equipment for aerating, drying, and bagging grain products. The loan supports three jobs and preserves 600 acres of farmland. ginguefamilyfarm.com/nekgrains
PRAVI Nutrition, Burlington
PRAVI Nutrition is a Burlington-based e-commerce company offering clean, high-quality nutritional products, with goat whey protein as its flagship line. Founders Joe Galati and Armin Elezovic have grown the business sustainably, with over 1,500 satisfied customers nationwide. A new loan will help PRAVI scale by purchasing inventory in bulk and launching new products like an electrolyte mix and creatine supplement. pravinutrition.com
Homecoming Seeds, Northfield
With support from a VCLF loan, Charlie and Madison Watt launched Homecoming Seeds, a farm-based seed company focused on open-pollinated vegetables, herbs, and flowers adapted to cold, short-season climates. Their work preserves regional seed diversity while supporting a resilient local food system. The loan helped fund critical infrastructure and equipment, including a high tunnel, fencing, irrigation infrastructure, and more. instagram.com/homecomingseeds
Little Patakha, Jericho
Little Patakha is a BIPOC woman-owned children’s brand creating screen-free media that builds empathy, confidence, and curiosity through inclusive stories and diverse representation. With support from a VCLF loan, the company is scaling its successful Sponsor A School program, which brings educational books, games, and toys to elementary schools across Vermont and beyond. littlepatakha.com
Le Bon Goût, Winooski
Le Bon Goût brings the vibrant flavors of West Africa to Vermont with signature dishes like Jollof Rice, Puff Puff, and Egusi Soup with Fufu. Founded in 2024 by Elom Essiba, this woman- and immigrant-owned food business has quickly built a following through pop-ups, catering, and takeout. With support from VCLF, Le Bon Goût is scaling up: adding a commercial vehicle, launching a website and online ordering, expanding marketing, and sourcing ingredients in bulk. lebongoutwinooski.com
Whirligig Brewing, St. Johnsbury
Whirligig Brewing is a microbrewery and restaurant founded by Geoffrey Sewake in downtown St. Johnsbury. A Justice Forward Fund loan will help expand seating, upgrade the kitchen, and relocate brewing equipment to improve flow and service. With a new liquor license and an enhanced menu, Whirligig continues to grow as a vibrant community gathering space in the Northeast Kingdom. whirligigbrewing.square.site
Champlain Center for Play Therapy & Family Counseling, Essex Junction
Founded in 2024 by licensed clinical social workers Kaitlyn Wessels and Carolynn Nagao Marcotte, Champlain Center fills a critical gap in Vermont’s mental health system for both children and families. Loan funds will provide working capital to bridge the gap between service delivery and monthly grant reimbursements while supporting a woman- and BIPOC-owned business. kidstherapyvt.com
Zirko, Burlington
Javier Zirko has successfully run El Gato Cantina’s food truck for several years and is now stepping into ownership as the parent business winds down. With nearly 20 years in the food industry, he’s built strong partnerships with the University of Vermont, Colchester Parks and Recreation, and regional events. This loan supports his transition by helping him acquire the equipment and brand he’s grown, continuing the business under his own name.
Community Facilities Lending
Greenway Hub, Montpelier
Norwich Technologies formed a new entity to purchase and revitalize College Hall in Montpelier as a sustainability-focused commercial property for nonprofit, educational, and government tenants. The building will eventually become home to Greenway Institute, a nonprofit reimagining engineering education through a hands-on, work-based model. The project supports VCLF’s mission by increasing access to affordable, innovative education and advancing a more sustainable future. greenwayinstitute.org
New School of Montpelier, Montpelier
The New School of Montpelier is a worker-owned therapeutic independent school serving students with a range of disabilities, operating since 2005 with more than 100 students and staff multiple campuses. In 2024, the school completed the purchase of two long-leased buildings with financing from VCLF and other sources, to ensure long-term program stability. In 2025, VCLF partnered with the Cooperative Fund of the Northeast to support renovations to improve accessibility and better adapt the spaces for learning. nsmvt.org
Early Childhood Education Lending
Perkinsville Preschool and Childcare, Perkinsville
Perkinsville Preschool & Childcare is transitioning from a registered to a licensed home program, doubling capacity and expanding to serve infants and toddlers. The program will support 3 full-time jobs and meet critical demand for early care in the region. Located on 51 acres, PPC offers a nature-based, inclusive program and provides early childhood special education services. wonderschool.com/ref/6933
Housing Lending
H.V. Real Estate Holdings, Morrisville
Evernorth, through HV Real Estate Holdings, acquired Copley Terrace in Morrisville to preserve all 38 units of affordable, HUD-subsidized senior housing. The property is adjacent to medical facilities and well-suited for older adults, with project-based rental assistance that makes all units accessible to residents with low-incomes. This acquisition ensures long-term affordability and aligns with top state housing priorities for preserving at-risk, subsidized properties. evernorthus.org
Twin Pines Housing Trust, Woodstock
Twin Pines Housing will replace an aging, donated home in Woodstock with a new, energy-efficient modular home as permanently affordable shared equity housing. The three-bedroom home will serve a low to moderate-income household, with resale restrictions to preserve long-term affordability. This project adds to Twin Pines’ growing portfolio in the Upper Valley, addressing the region’s urgent need for more affordable housing. tphtrust.org
345 East St, Vergennes
Genevieve Smyth is rehabilitating a long-vacant, historic building in downtown Vergennes to provide affordable housing for individuals exiting homelessness, with referral support from local shelters. The building will be fully weatherized, partially restored, and modernized for safe, durable, and accessible use, contributing to local housing goals and zoning reform efforts.
Champlain Housing Trust - Bay Ridge Condos, Shelburne
Champlain Housing Trust secured a construction loan for Phase 3 of its Bay Ridge redevelopment in Shelburne, creating 26 permanently affordable shared equity homes. This final phase included construction of six townhome buildings and one accessible duplex, all built to high energy-efficiency standards and designed to serve buyers with low incomes. Located in a high-demand housing market, the project helped address Chittenden County’s severe shortage of affordable homeownership options. getahome.org
A.W. Richards Apartments, Brattleboro
A.W. Richards is a 21-unit affordable housing building in Brattleboro owned by a partnership between Brattleboro Housing Partnerships and Evernorth. The property serves predominantly residents with extremely low to low incomes and includes on-site amenities and one commercial tenant. Refinancing will improve financial stability and help prepare for needed HVAC upgrades or future energy efficiency investments. brattleborohousing.org
CDI Development Fund – Breezy Acres/Hillcrest, Colchester
CDI Development Fund will use a construction bridge loan to upgrade the electrical infrastructure at Breezy Acres Cooperative and Hillcrest Resident Owned Community, two resident-controlled mobile home parks in Colchester. The project will replace outdated and unsafe systems with modern, code-compliant service. These improvements will enhance safety, reduce energy costs, and support future electrification needs. cdi.coop
CDI Development Fund – North Ave Co-op, Burlington
CDI Development Fund will use a construction bridge loan for Phase One of a full water, sewer, and stormwater infrastructure replacement at North Avenue Cooperative, a 119-lot resident-controlled mobile home park in Burlington. The project will improve water quality, eliminate contamination risks, and reduce utility costs by replacing outdated systems and installing individual meters. New stormwater infrastructure will also bring the property into compliance with state regulations and improve climate resilience. cdi.coop
City of St. Albans
The City of St. Albans and Northwest Career & Technical Center are partnering to redevelop a blighted lot into a permanently affordable single-family home, built by high school students in the Building Trades program. A VCLF loan, from the Career Technical Education Revolving Loan Fund, supports the first phase of the project, including site prep and demolition. This hands-on learning opportunity addresses both the local housing shortage and workforce development. stalbansvt.com