Vermont Community Loan Fund is pleased to announce the availability of flexible, low cost financing for qualified agricultural borrowers through the SPROUT program. With support from the Working Lands Enterprise Initiative, SPROUT provides low interest loans of up to $60,000 with a term of up to six years. Principal payments are deferred for two years, with 1% interest payments only during that time, and a fixed 2% interest plus principal payment thereafter. These funds are intended to support farms, food producers, and forest products businesses in start-up or early stage of operations with demonstrated or projected growth. To further enable success, this program also provides business development and advisory services at no cost.
VCLF is committed to providing creative solutions for working lands entrepreneurs. We encourage you to speak with your agricultural clients who may benefit from this loan program, and invite them to contact us to discuss their needs. I have attached an informational sheet with more program details on allowable use of funds, terms, and qualifications.