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 $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.

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