Business Builder Loan

Application Requirements

• Online application form

• Credit report for each signer

• Financial projections spreadsheet

• Previous year’s tax return

The Business Builder Loan program was launched in June 2012. This loan program supports Vermont farms and food producers and those who directly support the growing of the VT food system. The loans are for businesses to invest and innovate for growth, increasing the availability of local foods in Vermont.

Business Builder loans are available from $5,000 to $30,000. These loans are available at 3% amortized interest, to be repaid over a period of 24 to 48 months, based on the size of the loan. Businesses should have at least two years of operating history and a minimum of $20,000 a year in revenues for smaller loans. Larger loans are reserved for well-established businesses with a successful track record and a strong credit history. 

Business Builder loans are exclusively for Vermont farmers, those who own a Vermont food-related business whose primary inputs are Vermont farm products, and those who support Vermont farmers. We focus on small and midscale producers that are trying to build their businesses, and larger enterprises that are working on smaller, innovative projects and pilot business ventures.

Examples of uses of a Business Builder Loan include:

• Development of a new crop, product, process, or market

• Business and/or financial planning for diversifying product lines

• Equipment and/or infrastructure investments to increase the efficiency of the business

• New kinds of infrastructure and equipment that would increase the amount of local food or local ingredients in a commonly used product

Applications are reviewed and responded to within 10 business days, with most loan funds being granted to approved recipients within 14 business days.