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

Applicants are strongly advised to discuss their proposed project with VACC staff prior to submitting the application. 
Application is available below or may be obtained from the VACC office. When complete, mail your completed application package to: 
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.

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

Loan

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.

Download a complete application package here. Submit your application and any questions to flp@veda.org. 
Applicants are highly encouraged to seek technical assistance (TA) for determination of eligibility prior to applying. Information on TA provider(s) is available here.

The VEDA Short Term Forgivable Loan Program will provide financial assistance to businesses that continue to experience current and on-going economic harm due to the COVID-19 pandemic.

In accordance with guidelines developed by the State, VEDA will initially accept only applications from the following industry sectors and business owners:

- **Travel & Tourism**

- **Restaurants and Eating Establishments**

- **Lodging**

- **Childcare**

- **Agriculture**

- **BIPOC owned businesses in all industry sectors**



The VEDA Short Term Forgivable Loan Program will provide financial assistance to businesses that continue to experience current and on-going economic harm due to the COVID-19 pandemic.
In accordance with guidelines developed by the State, VEDA will initially accept only applications from the following industry sectors and business owners:
- Travel & Tourism
- Restaurants and Eating Establishments
- Lodging
- Childcare
- Agriculture
- BIPOC owned businesses in all industry sectors

To be eligible for this program, applicants must meet all of the following criteria:
- Businesses located in Vermont with fewer than 500 employees (includes sole proprietors and not-for-profits).
- Businesses that were in operation (or had taken substantial steps toward becoming operational) as of March 13, 2020;
- Businesses that can demonstrate and attest to economic harm caused by or exacerbated by the pandemic and such economic harm is ongoing.

A lump sum of money for a specific purpose that does not need to be paid back.

Grant

- Application Package
- Frequently Asked Questions
- Instructional Video

Coronavirus

Fencing

Trees

Weather

Wildfire

Drought

Flood

Hurricane

Tornado

Emergency

Determination of Loan Amount
- The FLP Calculator Tool will calculate an estimated loan amount. As directed by the legislative intent of this program, the FLP Calculator Tool places emphasis on current and on-going financial needs. Your business’ 2022 financial data is critical because the formula for the estimated loan amount places more weight on the most current financial data comparted to prior periods.
- In addition, the maximum loan will be the lesser of (1) $350,000; (2) six-months of operating expenses; or (3) the cumulative reduction in Adjusted Net Operating Income in years 2020 and 2021. 
- If a business has seasonal influences, please provide financial data from the first six-months of 2019 for a comparable period.
- Final Loan Amount will be determined by VEDA after taking all relevant information into consideration.
Loan Forgiveness
- Borrowers will have 12 months from the date of loan funding to apply for forgiveness.
- Loan Forgiveness will be determined based upon documentation submitted showing that the loan was used to pay for eligible operating expenses during the 12 months following the loan disbursement date.
- Application for loan forgiveness will be posted to this page at a later date. 
Loan Terms
- Collateral: None (Unsecured)
- Interest Rate: 0%
- Fees: None
- Personal Guarantees: Yes – from any 20% or more owner. (Does not apply to not-for-profit businesses.)
- Term: Up to 24 months with 1st 12 month no payments. If loan is not fully forgiven during initial 12 months, the loan converts to a 12-month, fully amortizing loan at 0% interest. 
- Expectation: Loan proceeds will used for eligible operating expenses, resulting in full forgiveness. 

List of Vermont Economic Development Authority (VEDA) Funding Opportunities