Agricultural Energy Loan Program (Vermont)
Last modified on February 12, 2015.
Financial Incentive Program
The Agricultural Energy Loan Program (AELP) is one of four loan programs under Vermont's Sustainable Energy Loan Fund. The AELP, created in 2013 as part fo the fund, 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 total amount of loans that can be ouststanding to a borrower at any time is $1,355,000. 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, but the maximum loan term is 20 years.
Fees associated with AELP loans include (1) a 0.5% commitment fee ($250 minimum and $2,500 maximum), (2) a $25 credit report fee, (3) an $18 flood insurance certification (if required), (4) an appraisal reimbursement (if applicable), and (5) document recording and discharge fees. There is no application fee associated with this loan.
|Contact Name||Steve Greenfield|
|Department||Vermont Economic Development Authority (VEDA)|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||H. 395 (Act No. 87)|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.