The Vermont Community Loan Fund finances projects that add value to Vermont communities while providing opportunities for low-to-moderate-income Vermonters. Our mission is to strengthen Vermont by providing equitable access to capital for affordable housing, community facilities, and small businesses.

The Vermont Community Loan Fund is a certified Community Development Financial Institution (CDFI) and provides loans for the following purposes:

• Affordable housing development
• Community facilities
• Small businesses
• Agriculture or agritourism enterprises
• Child care facilities (both center and home-based)

History
VCLF got its start in 1987, after a group in central Vermont, concerned with the lack of affordable housing, considered forming a community loan fund. They received a small Community Development Block Grant for a feasibility study, and VCLF was off and running.

In early 1988, VCLF made its first loan totaling $5,075 to the Brattleboro Area Community Land Trust, allowing it to make a deposit for an affordable housing project. In 1991, VCLF expanded its lending beyond non-profit affordable housing to include non-profit organizations that provide services to communities. In 1995, VCLF expanded again to include small businesses.

In 2000, VCLF launched its child care lending program, an agritourism loan fund, and a development capital loan program to further meet the needs of Vermont businesses. A down-payment program for mobile home ownership was also formalized in 2000. In 2001, a pilot revolving loan fund for renovating privately owned multifamily housing was launched. In 2003, VCLF expanded its services from solely lending to providing direct technical assistance to child care providers by adding a child care facilities developer to its staff.

Accomplishments
Since its founding, VCLF has provided over $26 million through more than 457 loans, creating or retaining 768 jobs, 1,738 affordable housing units, and 768 child care slots. In the past three years, VCLF has more than doubled the size of the organization from $5.5 million to $13 million. There is no indication of a slowdown in lending. In fact, VCLF projects our yearly lending to grow from $5 million annually in 2004 to $7.9 million in 2008.