No-interest loans offered to start-up, early stage farm, food businesses

The Vermont Community Loan Fund has announced the launch of SPROUT, a low-interest, deferred payment loan program for working lands entrepreneurs.

The new financing program was created to meet the capital needs of Vermont farms, food producers and processors, foresters, forest products businesses and others in the start-up and early stages of operations.

Earlier this year, SPROUT received start-up support from the Working Lands Enterprise Board.

SPROUT offers deferred-payment, low-interest loans of up to $60,000 at 0 percent with no payments for the first two years and a 2 percent fixed rate thereafter. VCLF will also coordinate comprehensive business development and financial planning/management technical assistance tailored to meet borrowers’ individual needs, free-of-charge.

To apply for or learn more about SPROUT, please contact Dan Winslow at (802) 224-9144 or dan@vclf.org .

Since 1987, VCLF has loaned over $90 million to local businesses, affordable housing developers and community-based organizations that has created or preserved 5,200 jobs; built or rehabilitated 4,000 affordable homes; created or preserved quality care for over 3,700 children and their families; and supported community organizations providing vital services to hundreds of thousands of Vermonters.