- Vermont individuals, partnerships, for-profit corporations, and limited liability companies planning to undertake a project for construction of or improvements to a renewable energy generating facility; to make energy efficiency improvements to an existing facility; and/or to adopt technologies that enhance or support the development and implementation of renewable energy or energy efficiency, or both.
- Must relate to a project undertaken by an agriculture- or forest product-based company for renewable energy generation and/or energy efficiency improvements and/or energy technology;
- Purchase of land and buildings, new construction or existing facility renovations or refurbishment;
- Purchase and installation of machinery and equipment;
- Payment for design, engineering and permit fees relating to an eligible project;
- VACC can finance or refinance existing assets or debt relating to an eligible project.
Loan Rates and Terms
- Attractive variable rates ( See Current Rates and Fees page );
- Loan term and amortization determined on a case-by-case basis, up to 20 years;
- In certain circumstances, a fixed interest rate may be available. Talk to your VACC loan officer.
- The portion of the cost of an eligible project that VACC can finance is negotiable. Discuss this with your VACC Loan Officer;
- Maximum aggregate loans outstanding to any borrower at any time may not exceed $1,355,000. This limit is subject to adjustment each year.
- 0.5% commitment fee with $250 minimum and $2,500 maximum;
- $25 credit report fee;
- $18 flood insurance certification (if required);
- Appraisal reimbursement (if applicable);
- Document recording/discharge fees; and
- No application fee.
- In most cases loans up to $300,000 may be approved internally by VACC staff;
- Loans exceeding $300,000 are presented to the VEDA Board monthly for consideration;
- Applicants are advised to discuss their proposed project with a VACC loan officer prior to submitting the application;
- Application may be obtained by calling 802-828-5627.