Areas Served: Statewide Vermont
VCLF’s Agritourism Loan Program is a Vermont revolving loan fund with financing of up to $50,000 at low interest rates.
The program focuses on supporting new or existing agricultural enterprises by providing low cost capital for agritourism related projects that help them enhance and diversify their revenue streams.
ELIGIBILITY – Agritourism businesses must be owned and operated by Vermont farmers.
– Your business must support agritourism endeavors on Vermont’s farms.
– Must provide goods and services directly to consumers.
– The majority of gross household income must come from agricultural related sources.
– Business must be 51% or more owned by US citizens or legal, permanent residents.
ACCEPTIBLE USES – Projects enhancing on-farm experiences and/or encouraging people visit farms.
– Projects related to increase the safety for guests on farms.
– On-farm and community infrastructure specific to agritourism enterprises: parking, restrooms, accessibility, education, electronic technologies, signage and aesthetics.
RATES AND TERMS – Terms range from several months to 20 years, are project specific and based on the project need and strength of the proposal.
Fixed interest rates of between 3%-5% depending on purpose of the loan and strenth of the application.
– A $50 application fee is due at the time the loan request is submitted.
An origination fee of 1% of the loan amount, a $125 documentation fee and associated filing fees are due upon closing.
In some cases, origination and closing fees may be financed.
WHAT IF MY PROJECT HAS OTHER FINANCING NEEDS? If your project is greater than $50,000 or is ineligible for Agritourism funding, VCLF also has loan funds available at slightly higher interest rates (currently 7% for general agricultural purposes).
Contact InformationVermont Community Loan Fund, Inc.
Address: 15 State Street
City: Montpelier
State: Vermont
Website:
https://www.investinvermont.org/borrowers/business/agritourism.html
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