Agricultural Energy Loan Program

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 and $250 minimum); a $30 credit report fee; if applicable, an appraisal fee; document recording fee, flood certificate fee and other out-of-pocket fees. Projects involving New Market Tax Credit (NMTC) have no maximum.