Agricultural Energy Loan Program

Program Agricultural Energy Loan Program
Category Financial Incentive
Implementing sector State
Last Update
State Vermont
Administrator Vermont Agricultural Credit Corporation (VACC)
Website http://www.veda.org/financing-options/vermont-agricultural-financing/agricultur…
Technologies Solar Thermal Electric, Solar Photovoltaics

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 $2,000,000, and the percent 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 CELP loans include (1) a 1% commitment fee ($5,000 maximum), (2) a $30 credit report fee, (3) if applicable, appraisal fee, document recording fee, flood certificate fee, and other out-of-pocket fees.

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