How to Apply
“We really appreciated how much trust and ease there was in the VFF application process. Very simple, straightforward, and fast.”
The Application Process
We accept applications on a rolling basis and award loans as funds are available. We strive for a two week turn-around time, from receiving the application at our offices to transferring the money into your account. We want to keep our application process as simple as possible, but the information we do request is crucial for us to make a responsible decision.
Our Advisory Board reviews your application once we have received all of the requested pieces of information. During the loan review process, it isn’t unusual for us to need additional information about your business and/or your needs in order to make a responsible final determination. One of our board members may visit your farm or business to get a better understanding of your operation. Please feel free to contact us at any time if you have questions about the application.
What We Expect from Loan Applicants
When you apply for a loan from the Vermont Farm Fund, you are becoming a part of a supportive, financial-agricultural community. The funds from the VFF that will help you with your emergency or business building project, have most likely helped another farmer or food producer in the past.
And, your payments will be “paid forward” to help the next agricultural producer with an urgent need or creative idea. As part of the community, we hope you’ll agree to tell your story and help us get the word out regarding this unique and valuable program.
“We really appreciated the direct communications with the VFF and the two week process from application to cash in hand.”
Deadline
Applications are accepted and considered on a rolling basis and loans are made based on availability of funds.
Decisions
Applications are reviewed and responded to within 10 business days. Most loan funds are granted to approved applicants within 14 business days after receiving all required documents. Applications are reviewed by a team of people on our Advisory Board from a variety of agricultural backgrounds.
Loan Amount and Rate
Emergency Loans are available for between $5,000 to $10,000 with 0% interest rate, payable over 2 years with a flexible payment schedule.
Business Builder Loans are issued at a rate of 3%, for amounts between $5,000 and $30,000. The maximum Business Builder term is 2 years for lower loan amounts, and up to 4 years for higher loan amounts.
New Producer Loans are issued at a rate of 3%, for amounts between $5,000 and $20,000. The term ranges from 2 to 5 years.
Who May Apply
Loan applications will be accepted from farm and food-related businesses registered and located in Vermont that either produce or source ingredients for their value added food processing from local farms/producers (Vermont plus 30 miles).
Before You Begin
If you haven’t already, please review the details of the loan you’re applying for and our FAQ before applying. We also encourage you to contact our Program Manager, Kristin Blodgett, at 802.560.3099 to review your situation and answer any questions before starting the application.
A Note on Tax Season
If you are applying during the traditional tax season, e.g., January thru April, there is no need to delay your application to complete the prior year’s schedule F. In this case, please provide the most recent complete Schedule F, as well as your Profit & Loss report from the prior year. Note that the Financial Projections form should be filled out with estimated numbers for the prior year if your taxes are not yet complete.
Application Checklist
- Completed Application
NEW! Apply Online
If you'd prefer to print out the forms and fill them out manually, you can also download the application form here:Emergency Loans
Download Word Format | Download PDF Format
Business Builder and New Producer Loans
Download Word Format | Download PDF Format
During the application, you will be asked for the business tax ID (if any), as well as the social security numbers of all parties signing the loan. Note that all members of a partnership, as well as any corporate owner/officer with a 20% share or greater in the corporation must be listed on the application.
The application also includes space for a high-level budget of the project you’ll be financing with the loan.
You will also be asked for the contact information for three personal references we can speak to, including one person you have done business with. - A completed Financial Projections form. Download spreadsheet (opens in Google Sheets - download to edit in Excel)
- Your most recent tax return (Schedule F for farm businesses, or personal return if you are a sole proprietor)
- Balance Sheet(optional).
- Business plan or other supporting documentation(optional).
Once we receive your application, we will confirm its receipt, and send you a request for your credit report via a third party credit reporting agency. At that time you will need to pay $14.95 to share your credit report with the VFF Program Manager.
Submit your application
Either fill out your application online and upload your documents securely, OR, when you are ready to submit your application, email us for a secure upload link.
Equal Access and Opportunity
All persons applying for a loan will receive fair and equal consideration regardless of their sex, age, national origin or ethnic heritage, race, sexual orientation, religion, location of residence within the area, income, disability, or familial status.