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Last Updated March 7, 2023

Program Overview

Category:

Financial Incentive

State:

Vermont

Incentive Type:

Loan Program

Administrator:

Vermont Agricultural Credit Corporation (VACC)

Start Date:

N/A

Expiration Date:

N/A

Web Site:

Applicable Sectors:

N/A

Eligible Renewable/Other Technologies:

N/A

Summary

The Agricultural Energy Loan Program (AELP), created through Act 87 in 2013, is administered by the Vermont Agricultural Credit Corporation (VACC). The AELP provides loans to agriculture- or forest-product-based companies for renewable energy and energy efficiency projects. 

The maximum loan amount is $5,000,000, and the percentage of the project funded by VACC is negotiable. Loans are provided at variable rates, although fixed rates may be available in some circumstances; current rates can be found here. Loan terms are determined on a case-by-case basis.

Fees associated with AELP loans include a 1% commitment fee ($5,000 maximum); a $30 credit report fee; if applicable, an appraisal fee; a $900 approximate fee for independent project review; if required an $18 flood insurance certification; and document recording/discharge fees.