Browse Ambrook’s collection of funding programs by Vermont Economic Development Authority (VEDA)

Discuss your proposed project with a VACC Loan Officer before applying; download the VACC Energy Loan Application or obtain it from the VACC office (802-828-5627, info@veda.org).

VEDA / VACC (general)

Administered by VEDA's Vermont Agricultural Credit Corporation (VACC), this program helps Vermont agriculture- and forest-product-based businesses finance qualifying renewable-energy generation or energy-efficiency improvement projects, and adopt technologies that support the development and implementation of renewable energy or energy efficiency.



A farmer or a business entity majority-owned by farmers, provided the applicant is a Vermont resident engaged in agriculture or a forest-products business in the state; an operator or proposed operator of an agricultural or forest-based products business; or a current/prospective owner, purchaser, or lessee of agricultural land, or of depreciable machinery, equipment, and/or livestock in Vermont. Loan purposes: qualifying renewable-energy generation or energy-efficiency improvement projects or supporting technologies.

A payment that must be returned to the provider following specified terms of repayment and interest rate.

Loan

Biofuel

Hydro Power

Solar Power

Wind Energy

Attractive variable and/or fixed rates; the loan term, amortization, and the financeable portion of the project are negotiable, based on cash flow, useful life of assets, and project viability. Fixed rates (5 years) are available on loans up to $500,000. Commitment fee: 1% (maximum $5,000) on loans up to $1,000,000; 0.5% (no cap) above $1,000,000.

Discuss your needs with a VEDA lender before applying (802-828-5627 or info@veda.org). Download the Agricultural and Forestry Loan Application or obtain it from VEDA's office.

VEDA created special loan products with subsidized interest rates to meet the working-capital and capital-asset financing needs of Vermont forestry and forest-products businesses, with even deeper discounts for the purchase or refinancing of certain low-impact logging equipment. Administered through the Vermont Agricultural Credit Corporation (VACC).



Businesses in the forest economy, including foresters, loggers, log truckers, biomass producers, sawmills, firewood producers, and wood-product manufacturers, in good standing with all state agencies. Loan proceeds must be used for projects located in Vermont and use forest products at least partially produced in Vermont. Purposes: capital assets (vehicles, machinery, equipment such as log trucks, excavators, feller bunchers, wood processors), operating expenses, seasonal working capital, debt refinancing, and qualifying low-impact logging equipment.

HVAC

Lighting

Repairs

Legal & Finance

Maximum loan is the lesser of 90% of the value of the securing assets or $500,000. Interest is VEDA's fixed or variable Agricultural Loan Rate minus 1% for the first five years, then VEDA's prevailing variable rate. Terms are based on the useful life of assets (typically up to 10 years for equipment, up to 5 years for working-capital lines). Loans are secured by business/personal assets and guaranteed by any owner of 20% or more. Low-impact logging equipment (with LEAP or Master Logger certification) may qualify for up to an $800,000 loan at 2.5% interest, supported by the Clean Water Fund. A commitment fee of 0.5% ($3,500 maximum) applies.

- Applicants are advised to discuss their proposed project with VACC staff prior to submitting the application;
- Applications may be downloaded or obtained from the VACC office.
- Note: Loan terms, rates, fees and conditions may vary from those shown above if the loan is enrolled in a Farm Service Agency guaranteed loan program.

Vermont Agricultural Credit Corporation
58 East State Street, Suite 5
Montpelier, VT 05602-3044

Ann Miller

VACC, a program of VEDA, is a nonprofit&#x2004;corporation which provides credit to Vermont farmers, agricultural facilities, forestry and forest product-based businesses. Farm loans are available to strengthen existing farm operations, encourage diversification, support beginning farmers, and to encourage marketing and processing of Vermont agricultural and forestry products. “Farm Operations” means the cultivation of land or other uses of land for the production of (among other things) food, orchard products, maple syrup or forest crops. Also included is the raising, boarding and training of equines and the raising of livestock.



VACC, a program of VEDA, is a nonprofit corporation which provides credit to Vermont farmers, agricultural facilities, forestry and forest product-based businesses. Farm loans are available to strengthen existing farm operations, encourage diversification, support beginning farmers, and to encourage marketing and processing of Vermont agricultural and forestry products. “Farm Operations” means the cultivation of land or other uses of land for the production of (among other things) food, orchard products, maple syrup or forest crops. Also included is the raising, boarding and training of equines and the raising of livestock.

A farmer or business entity, the majority of which is owned by farmers, provided the applicant is:
- A Vermont resident who is engaged in agriculture or forest products businesses within the state and will help expand the agricultural economy of the state;
- An operator or proposed operator of an agricultural or forest-based products business;
- A current or prospective owner/prospective purchaser or lessee of agricultural land in the state or of depreciable machinery, equipment and/or livestock in Vermont.

Certification

Distribution

Diversification

Events

Trade Show

Farmers Market

Stewardship

Certified Organic

Trade Relief

Marketing

Historically Underserved

Food Systems

Farm Ownership Loans may be used to:
- Acquire or enlarge a farm, agricultural facility or forest products business;
- Acquisition of/improvements to farm and forestry real estate;
- Make capital improvements, including construction, purchase and improvement of buildings;
- Promote soil and water conservation and protection;
- Refinance indebtedness incurred for farm/business purposes.
Farm Operating Loans may be used to:
- Purchase livestock, machinery and equipment, or fixtures;
- Pay annual operating expenses of a farm operation, forest products business or agricultural facility;
- Refinance indebtedness incurred for operating loan purposes;
- Finance lines of credit.
Farm Loan Rates and Terms
- Eligible VACC loans may be guaranteed by the USDA Farm Service Agency;
- Attractive variable or fixed interest rates based on VACC’s cost of funding (click here for current rates and fees); 
- Consistent with conventional lending practices, VACC secures its loans with mortgages and/or security interest in available collateral;
- Terms will be matched to the life of the asset being financed. Maximum term is 20 years.

List of Vermont Economic Development Authority (VEDA) Funding Opportunities