Loan fund backs community projects
The Vermont Community Loan Fund is channeling impact investments into affordable housing, child care, and small businesses — offering seed capital, technical assistance, and co‑op financing that can support newcomer families and refugee entrepreneurs. The fund is highlighted as a practical pipeline for local community development and inclusive economic projects. (sevendaysvt.com)
The Vermont Community Loan Fund reported roughly $55 million in assets and recorded about $15 million in new lending during 2024, according to a presentation to the state Senate economic development workgroup. (legislature.vermont.gov) VCLF announced it financed more than $8 million across Vermont in the first half of 2025, with the organization’s executive director Will Belongia cited in the release. (investinvermont.org) The loan fund’s quarterly disclosures show $2.13 million in lending in Q2 2024 and $3,361,700 in lending in Q2 2023, covering borrowers from affordable-housing developers to New American‑owned businesses. (vermontbiz.com) The Justice Forward Fund explicitly targets Vermonters traditionally excluded from conventional credit, offering a one-time $60 application fee, a 2% interest rate option, simplified underwriting and no minimum collateral requirements. (investinvermont.org) Seven Days and VCLF reporting name specific Justice Forward Fund borrowers, including Haji Driving Academy founder Aden Haji and Burlington Trolley Tours, as examples of New American and BIPOC entrepreneurs who accessed JFF loans. (sevendaysvt.com) VCLF’s affordable‑housing product lists a 6.65% interest rate (4.65% for permanently affordable projects), allows amortizations up to 40 years and covers acquisition, predevelopment and bridge financing. (investinvermont.org) Local project examples tied to impact investment and VCLF support include the Caledonia Food Co‑op’s building purchase and Wren’s Nest Forest Preschool’s use of VCLF bridge financing to secure a permanent site. (vtdigger.org) VCLF says its capital comes from hundreds of impact investors — individuals, faith groups, foundations, banks and public sources — and that it has loaned more than $150 million over its history while maintaining investor repayment. (investinvermont.org)
