VT Community Loan Fund Lends Over $337,000 to VT Farms and Food Entrepreneurs & Others in 3rd Quarter 2019
The Vermont Community Loan Fund, a nonprofit, alternative, 501 (c)3, mission-driven lender benefiting lower-wealth Vermonters, loaned over $337,000 to Vermont’s farms, food producers and others in the 3rd quarter of 2019.
Agricola Meats, Panton
To take sales to the next level, Agricola Meats determined to expand their fresh pork product line to add cured pork products such as prosciutto, salami and more. The plan necessitated moving production from shared space at the Mad River Food Hub to their own processing and aging facility. They used a VCLF loan to renovate a processing site and purchase equipment. The loan preserves one full- and one part-time job, and led to the creation of three new positions. http://www.agricolavermont.com/
Vermont Trade Winds Farm, Shoreham
Trade Winds Farm produces maple syrup and other maple products, selling wholesale, online, and at retail in a small, open-air, home-based farm stand. To boost retail sales, owners planned the conversion of a large, unused barn on their property into a retail, processing and office space – providing better parking and road access along with increased capacity. VCLF financing preserves three jobs and is expected to create two new ones. vermonttradewinds.com/
Since 1987, the Vermont Community Loan Fund has loaned $110 million to local businesses, affordable housing developers and community-based organizations that has created or preserved 6,500 jobs; built or rehabilitated 4,100 affordable homes; created or preserved quality care for over 4,100 children and their families; and supported community organizations providing vital services to hundreds of thousands of Vermonters. investinvermont.org