Small Business Lending

(Pictured at left: John Blittersdorf of Central Vermont Solar and Wind, Rutland)













The Vermont Community Loan Fund finances a wide variety of businesses ranging from production agriculture to specialty foods, retail stores and wood products manufacturers. VCLF loans are aimed at businesses that
provide benefits to low-to-moderate-income Vermonters through
livable-wage jobs and revitalized communities. Our objective is to save and create jobs through business development.

Eligible to apply are Vermont businesses that:

• Support sustainable local economies
• Conserve or expand economically viable uses of Vermont's working landscape and/or natural resources
• Increase economic opportunities for low-income, disenfranchised or underemployed Vermonters through the creation of livable-wage jobs and quality workplaces

Loans may be used for:

• Real estate mortgages
• Fixed-asset financing
• Permanent working capital
• Line of credit
• Purchase order financing
• Restructured debt
• Subordinated Debt
  
  Rates and terms:
  
• Interest rates are slightly above bank rates, and are to be determined on a case-by-case basis.
• Terms range from several months up to 20 years, typically fully amortized.
• Flexibility in term, rate and repayment schedule is project specific and based on project need and strength of proposal.
  
  Collateral:
  
• Collateral is required to include a security interest in fixed assets, inventory and receivables. VCLF may also require security in the form of personal guarantees, collateral on personal assets or a cosigner.
  
  Maximum loan amount:
  
• The current maximum loan amount will not exceed $250,000.
  
  Fees:
  
• Application fee of $50.
• Origination fee of 1.0% of the loan amount, due at closing.
• Loan documentation fee of $125, due at closing.
• Expenses incurred for the recording of collateral documentation and anticipated discharge of such documentation, due at closing.
  
  To apply:
  
• We encourage you to speak to a loan officer before submitting a loan application. You may download a complete package of application forms here:
• Business Loan Application (Word Document)
• Business Loan Application (pdf)