Financing for Vermont Businesses and Farms

Agricultural Energy Loan Program

This program, administered by VEDA’s agricultural loan organization, the Vermont Agricultural Credit Corporation (VACC), helps Vermont agriculture- and forest product-based businesses finance qualifying renewable energy generation or energy efficiency improvement projects, and adopt technologies that enhance or support the development and implementation of renewable energy or energy efficiency, or both.

Eligibility

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.

Loan Purposes

  • Qualifying renewable energy generation or energy efficiency improvement projects or technologies that enhance or support the development and implementation of renewable energy or energy efficiency, or both.

Loan Rates and Terms

  • Attractive variable rates and/or fixed rates.  Click here for Current Rates and Fees;
  • Loan term and amortization determined based on cash flow, useful life of assets and project viability.

Borrowing Parameters

  • The portion of the cost of an eligible project that VACC can finance is negotiable.  Discuss this with your VACC Loan Officer.

Fees

  • No application fee;
  • 0.5% commitment fee with $250 minimum and $2,500 maximum;
  • Independent Engineer Review fee;
  • $25 credit report fee;
  • Appraisal reimbursement (if applicable);
  • Document recording/discharge fees.

Application Process