Vermont may be a small state in size, but it’s bursting with financial resources for businesses of all kinds. The state has an impressive collection of business loans and grants for agricultural and forestry-related operations. If you’re a Vermont-based business or want to start a business in the Green Mountain State, check out these resources below.
Department or Agency: The State of Vermont Agency of Commerce and Community Development
Loan or Grant title: Elevate Vermont – Matching Grant
Elevate Vermont gives matching grants to Vermont-based companies that have received a Phase I or II award from the federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants. The maximum grant is $50,000. Companies can use the funds to support market research, develop new sales materials, and offset marketing expenses.
Department or Agency: Agency of Commerce and Community Development and the Vermont Department of Economic Development
Loan or Grant title: State Trade Expansion Program (STEP)
The Vermont State Trade Expansion Program (STEP) supports small businesses as they enter foreign markets or expand export operations internationally. Eligible companies have a physical operation and employees in Vermont, making at least 51% of the product in the United States. Eligible businesses may receive up to 75% reimbursement for pre-approved, allowable export-related expenses up to $20,000 per year. Permitted uses include trade show costs, digital marketing for international campaigns, compliance testing, export research, and more.
Department or Agency: Agency of Commerce and Community Development
Loan or Grant title: Vermont Training Program
The Vermont Training Program exists to enhance the skills of the Vermont workforce and increase worker productivity. While all business sectors are eligible to apply, specific sectors are given priority. Projects to be funded should focus on developing targeted skills relevant to the employees’ jobs and pertain to a new or innovative product, equipment, technology process, market opportunity, or productivity gain. Funds cover up to 50% of employee wages for training or up to 50% of the trainer costs.
Department or Agency: Working Lands Enterprise Initiative
Loan or Grant title: Business Enhancement Grants
Vermont’s Business Enhancements Grants is an annual program that opens in September yearly. The program awards $10,000 to $50,000 to businesses in Vermont to fund market development, research and development, infrastructure, energy, or workforce development projects.
Learn more at the Working Lands Grant FAQ webpage and watch for the request for application page for details when the program reopens.
Department or Agency: Vermont Agency of Agriculture, Food & Markets
Loan or Grant title: Trade Show Assistance Grants
Vermont’s Trade Show Assistance Grants is an annual program that opens in the fall each year. Grants between $2,000 and $5,000 are awarded to Vermont-based agricultural and forestry businesses that have three or more wholesale accounts and products that meet defined requirements. Funds may be used to identify, plan, and exhibit Vermont-made products at out-of-state trade shows or virtual shows targeting out-of-state buyers.
Department or Agency: Vermont Housing and Conservation Board
Loan or Grant title: Farm & Forest Viability Program – Water Quality Grants
Vermont’s Farm & Forest Viability Program gives one-to-one matching grants to eligible Vermont farmers who need capital to invest in infrastructure to improve their farms’ water quality. The maximum grant amount is $50,000; farmers can use the funds to purchase equipment and make renovations and improvements to their infrastructure.
Department or Agency: Vermont Housing and Conservation Board
Loan or Grant title: Farm & Forest Viability Program – Business Plan Implementation Grants
Vermont’s Farm & Forest Viability Program gives grants to program participants who’ve completed business or transfer plans. The grants range from $1,000 to $8,000 and can be used for business infrastructure construction, equipment, machinery upgrades, and energy efficiency projects.
Department or Agency: Community Capital of Vermont (CCVT)
Loan or Grant title: Business Loans
Community Capital of Vermont provides loans and lines of credit to Vermont businesses that have struggled to get financing through traditional lending institutions. With CCVT, companies can get funds or credit up to $100,000 to use on starting a business, purchasing equipment and inventory, refinancing debt, and supplementing working capital.
Department or Agency: Efficiency Vermont
Loan or Grant title: Financing for Agricultural Operations
Efficiency Vermont provides low-interest loans to agricultural operations that need capital for energy efficiency-related projects. Ag businesses can use the funds for various energy-related purposes, including upgrading their lighting, purchasing new equipment, or installing energy-efficient machinery.
Department or Agency: Efficiency Vermont
Loan or Grant title: Business Energy Loan
Efficiency Vermont also offers a Business Energy Loan to Vermont businesses that want to upgrade energy efficiency in their facilities or operations. The maximum loan is $50,000 with flexible repayment periods of up to 10 years. To qualify, the business must be located in Vermont and need at least $3,500 in funding. The applicant also has to have at least a 660 credit score.
Department or Agency: Flexible Capital Fund
Loan or Grant title: Investment
The Flexible Capital Fund (also known as Flex Fund) is a women-led CDFI in Vermont. Flex Fund offers unique loans to Vermont growth-stage companies that belong to the following sectors: sustainable agriculture and food systems, forest products, and clean technology. Eligible companies can use royalty financing, subordinated debt, and warrants. To qualify, companies must demonstrate a positive impact on environmental conservation, preservation of the working landscape, or renewable energy. Companies also need to demonstrate a commitment to racial and social equity in their work and to creating jobs with livable wages and benefits.
Department or Agency: The Center for an Agricultural Economy
Loan or Grant title: Vermont Farm Fund – Business Builder Loan
The Vermont Farm Fund gives Vermont farms and food producers the financial assistance they need to innovate and grow. The Business Builder Loan ranges from $5,000 to $30,000 with a 3% amortized interest. Businesses can use the funds for various projects, including developing a new crop, product, process, or market; diversifying product lines; and investing in new equipment or infrastructure. To qualify, businesses need to have at least two years of operating history and at least $20,000 a year in revenues.
Department or Agency: The Center for an Agricultural Economy
Loan or Grant title: Vermont Farm Fund – Emergency Loans
The Vermont Farm Fund offers emergency loans to farm businesses that have lost buildings, animals, equipment, greenhouses, or hay fields due to a natural disaster. Loans can be up to $15,000 with zero interest.
Department or Agency: The Center for an Agricultural Economy
Loan or Grant title: Vermont Farm Fund – New Producer Loan
The New Producer Loan is designed to help new Vermont farmers and food producers finance equipment, infrastructure, and technology to start their value-added food businesses. Loans range from $5,000 to $20,000 at 3% amortized interest. To qualify, businesses must be farm and food-related, located in Vermont, and in operation for at least two years before applying.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: Business Loan Program
The Vermont Community Loan Fund (VCLF) gives business loans up to $350,000 to eligible Vermont operations. Businesses can use the capital for a variety of business purposes, as long as their work helps achieve one of the following: 1) support sustainable local economies, 2) conserve or expand the state’s working landscape and natural resources, or 3) increase economic opportunities for low-income or disenfranchised Vermonters.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: Agritourism Loan Program
VCLF gives loans up to $50,000 to agritourism businesses in the state. Companies can put the money toward projects that enhance on-farm experiences and visitor satisfaction, increase guest safety, or improve on-farm and community infrastructure. To qualify, businesses must be owned by Vermont farmers, support agritourism in the state, provide goods and services directly to consumers, and demonstrate that most of their income comes from agricultural-related sources.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: Food, Farms & Forests Fund
VCLF’s Food, Farms & Forests Fund gives loans to farms and agricultural operations; food producers, incubators, wholesalers, and retailers; forestry and forest product enterprises; and stewardship and other natural resources organizations. Loan amounts and terms are flexible. Businesses can use the funds to acquire real estate or farmland, improve their facilities, purchase equipment and inventory, and fill working capital gaps.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: SPROUT Loan Program
The SPROUT Loan Program serves working lands entrepreneurs in Vermont who wouldn’t otherwise qualify for a VCLF loan. That includes eligible farms and agricultural operations, food processors and producers using predominantly local ingredients, and foresters and forest products businesses. Businesses can invest the capital in real estate, facility improvement, inventory, working capital, or equipment. The maximum loan amount is $60,000, with two years of 1% interest and a fixed 2% interest rate afterward.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: TRAILS Loan Program
The TRAILS (Tourism and Recreation Adventure Infrastructure Loans) Loan Program is available to businesses that directly or indirectly support Vermont’s outdoor recreation industry. Companies can borrow between $5,000 and $350,000 for real estate, facility improvement, inventory, working capital, or equipment.
Department or Agency: Vermont Community Loan Fund (VCLF)
Loan or Grant title: Justice Forward Fund
The Justice Forward Fund is dedicated to helping Vermont business owners who have been historically excluded from traditional financial markets and institutions, including Black Vermonters, Indigenous Vermonters, and Vermonters of color. Loan amounts range from $1,000 to $50,000 with a 2% annual interest fee. Businesses can use the funds for working capital, equipment and inventory purchases, and facility construction or improvement.
Department or Agency: Northeast Organic Farming Association of Vermont (NOFA-VT)
Loan or Grant title: Farmer Resilience Grants
The Northeast Organic Farming Association of Vermont (NOFA-VT) offers annual Farmer Resilience Grants to projects that have a positive social, environmental, and economic impact in their community. Farmers can earn between $2,000 and $5,000 for their projects.
See when the next application period opens here.
Department or Agency: Northeast Organic Farming Association of Vermont (NOFA-VT)
Loan or Grant title: Farmer Emergency Fund
NOFA-VT’s Farmer Emergency Fund supports local farmers who’ve been adversely affected by natural disasters and other emergencies. Commercial farmers who are NOFA-VT members can earn up to $2,500 in grants. Farms that are VOF-certified organic can earn up to $5,000. Farmers can put the grant money toward improving or replacing damaged or lost infrastructure, feed, livestock, and equipment; they can also use the funds to pay farm-related bills like mortgages and utilities.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Vermont Agricultural Credit Corporation (VACC) Loan Program
The Vermont Agricultural Credit Corporation (VACC) is a nonprofit that provides loans to Vermont farmers, agricultural facilities, and forestry and forest product-based businesses. Eligible businesses can get one of two loans: 1) Farm Ownership Loans to acquire or expand a business, make capital improvements, and conserve and protect soil and water; and 2) Farm Operating Loans to purchase livestock, machinery, equipment, and fixtures and pay annual operating expenses.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Direct Loan Program
VEDA’s Direct Loan Program helps Vermont business owners finance fixed assets. Businesses in manufacturing, processing, warehousing, research and development, recycling, travel and tourism, and information technology can apply for a VEDA loan to cover up to 40% of their project cost, up to $5 million. Businesses can use the loan to purchase land and buildings; undergo construction or renovations; buy and install new machinery and equipment, and buy furniture and fixtures.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Vermont Small Business Loan Program
The Vermont Small Business Loan Program helps growing Vermont businesses that haven’t been able to qualify for financing from traditional financial institutions. The program offers loans up to $500,000 to help companies to purchase fixed assets like real estate and machinery or cover working capital gaps. A working capital loan can’t exceed 50% of the project cost, and a fixed asset loan can’t exceed 40% of the project cost.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Entrepreneurial Loan Program
VEDA’s Entrepreneurial Loan Program helps Vermont seed, startup, and early-stage growth businesses in Vermont that need capital for their innovative products and services. To qualify for funding, companies must demonstrate that their products and services have potential for long-term organic growth and prove that they’re committed to creating and retaining jobs for Vermonters. The maximum loan amount is $350,000, and can be used on working capital and fixed assets.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Entrepreneurial Loan Program
VEDA’s Entrepreneurial Loan Program helps Vermont seed, startup, and early-stage growth businesses in Vermont that need capital for their innovative products and services. To qualify for funding, companies must demonstrate that their products and services have potential for long-term organic growth and prove that they’re committed to creating and retaining jobs for Vermonters. The maximum loan amount is $350,000, and can be used on working capital and fixed assets.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Commercial Energy Loan Program
The Commercial Energy Loan Program gives loans of up to $6 million to businesses undertaking qualified renewable energy generation and energy efficiency improvement projects. VEDA can fund up to 60% of the project’s cost, up to $500,000. Eligible businesses can use the funds to purchase land and buildings; purchase and install new machinery and equipment; undergo construction or renovations; and pay permit fees.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Agricultural Energy Loan Program
The Agricultural Energy Loan Program gives agriculture and forest product-based businesses capital to take on qualifying renewable energy generation or energy efficiency improvement projects. Farmers and businesses engaged in agriculture and forest products within Vermont are eligible to apply. Loan amounts and terms vary.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Electric Vehicle Workplace Charging Station Loan Program
The Electric Vehicle Workplace Charging Station Loan Program helps eligible businesses finance EV charging stations at their business facilities. The loan can cover up to 80% of the cost of EV charging station purchase and installation, up to $25,000. To qualify, businesses must be customers of Green Mountain Power or another electric utility with a similar EV charging station program.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Electric Vehicle Charging Station Loan Program – SIB
Funded through the State Infrastructure Bank (SIB), this program also helps eligible Vermont businesses finance electric vehicle charging stations that the general public will use. The loan is up to $100,000 with a 1% fixed interest rate.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Montpelier Heating District Loan Program
The Montpelier Heating District Loan Program helps Montpelier businesses finance projects to meet the city’s new heating district improvements. The maximum loan amount is $60,000 with a 4% fixed interest rate.
Department or Agency: Vermont Economic Development Authority (VEDA)
Loan or Grant title: Forestry Loan Program
The Forestry Loan Program supports businesses engaged in forestry and forest products, like loggers, log truckers, biomass producers, sawmills, firewood producers, and wood product manufacturers. These businesses can get loans up to $500,000 to put toward working capital and fixed assets like real estate and equipment.
Department or Agency: City of Burlington and Kiva
Loan or Grant title: Kiva Micro-Lending Program
The City of Burlington partners with Kiva to give local businesses loans from $1,000 to $15,000. The loans have 0% interest rates and repayment periods of 12 to 36 months.
Department or Agency: Central Vermont Economic Development Corporation (CVEDC)
Loan or Grant title: Revolving Loan Fund
The Central Vermont Economic Development Corporation (CVEDC) has a revolving loan fund that supports local small businesses that have the potential to create more jobs for Vermonters. The maximum loan amount is $50,000, which companies can use on equipment, furniture, fixtures, supplies, working capital, and more. To qualify, companies need to have 10 or fewer employees at the time of application, have operated for at least one year, be at least 51% owned by a US citizen, and be located in Washington County or the towns of Orange, Washington, or Williamstown in Orange County.
Department or Agency: Rutland Development Authority
Loan or Grant title: Business Incentive Assistance Program
The Business Incentive Assistance Program helps small businesses in the City of Rutland. The program has a non-secured loan of up to $10,000 (which can be forgiven if certain conditions are met), and a $5,000 grant that businesses can use to supplement machinery and equipment purchases or real property improvements.
