The Vermont Community Loan Fund loaned $660,476 to Vermont’s small businesses, early care & learning programs, affordable housing developers and community facilities in the fourth quarter of 2019, promoting job creation, expanding access to quality care, affordable homes and provision of vital community services throughout Vermont.

The last quarter capped off a strong year for VCLF: 38 loans totaling $4,468,857, leveraging another $11.7 million in project funding from traditional lenders and public & private sources. Last year, VCLF financing created or preserved jobs for 338 Vermonters, quality early care & learning serving 236 children & families, and built or rehabilitated affordable homes for 150 Vermont households.

On December 31st, 2019, VCLF’s loan portfolio consisted of 239 loans with $31 million outstanding, representing employment for 2,213 Vermonters, quality care for 1,379 children & families, affordable homes for 1,081 families and essential services for 35,141 Vermonters.

“The Vermont Community Loan Fund is proud to help finance Vermont’s innovative entrepreneurs, early care & learning providers, affordable housing developers and community facilities throughout our state,” said VCLF Executive Director Will Belongia.

During the fourth quarter of 2019, the Vermont Community Loan Fund provided financing to:

Aunt Sadie’s Candles, Lunenburg
Aunt Sadie’s, manufacturer and seller of hand-crafted scented candles, has previously turned to VCLF to refinance debt and purchase much-needed holiday season inventory. In 2019, they again came to VCLF for a loan to purchase inventory in advance of busy holiday orders. Financing helped preserve four jobs, and created one new one. auntsadiesonline.com

Copper Creamery, Montpelier
Copper Creamery produces loum, an authentic Mediterranean halloumi-style cheese, made exclusively with locally-produced goat and cow milk. VCLF helped them purchase a pasteurizer, cheese molds and testing, cleaning & refrigeration equipment, and to cover installation and consulting fees. The loan helped create one full-time and one part-time position.

Flower Basket, Hardwick
When the Flower Basket, long a fixture in Hardwick, changed hands, the new owners approached VCLF for financing to cover costs including new equipment, inventory and updates to their retail space. Moving forward, they plan to increase their sourcing of local flowers. The loan helped preserve two full-time jobs, with plans to add two more in the near future. theflowerbasketvt.com

Gray Building Coalition, Northfield
In 2003, the nonprofit Gray Building Coalition purchased Northfield’s historic former schoolhouse, known as The Gray Building, to redevelop it as a community resource center. With VCLF financing, its classrooms were renovated and repurposed as community space and rental spaces for local businesses and nonprofit community groups. Last year, VCLF financed additional renovations to prepare the facility for sale to a new nonprofit owner. Financing helped preserve the facility serving 5,800 Vermonters annually.


Magic Mountain Ski Area, Londonderry
First opened in 1960, Magic Mountain was purchased by new owners in 2016. Since taking over the mountain, they’ve grown their revenues in every category, with annual skier visits increasing by 30%. Hoping to continue that growth, they
came to VCLF for help financing a new quad chairlift, along with new marketing strategies. The loan helped preserve six fill-time, year-round jobs and 85 part-time seasonal jobs. An additional six jobs will be created. magicmtn.com


Northeast Kingdom Learning Services, Newport

Northeast Kingdom Learning Services, a nonprofit organization, started in the mid-1960s as an Office of Economic Opportunity adult literacy program. Across five decades, they’ve provided programming including family literacy, migrant education, tobacco and substance abuse programming and more. NEKLS came to us last year as they planned to open a child care facility, Newport’s Ready, Set, Grow Child Care Center. Financing has resulted in quality early care & learning serving 98 children & families, and 16 new jobs. neklsvt.org/tempwebsite

Sawyer Made, Woodbury
Sawyer Made fine woodworking has been making historic reproduction and other hand-crafted chairs from locally-sourced wood since 1982. They also offer classes in chair-making and woodworking. Recently, upon receiving a Working Lands Enterprise Initiative grant that partially funded the renovation of their carriage barn, they approached VCLF for help completing the work. The project will enable the business to double class enrollments, create gallery and event space, and more.This loan preserves one full-time job, with the creation of a new job anticipated in the near future. sawyermade.com

Summit Properties’ 101 Mahoney Avenue, Rutland
Summit Properties is a Vermont-based, private developer of affordable housing recognized for award-winning senior housing communities. They came to VCLF for financing to help purchase a pre-existing affordable senior complex . The loan resulted in the rehabilitation of 22 affordable homes, and the creation of 27 construction jobs.

Walnut Hill Farm, Pawlet
Walnut Hill Farm owners previously used VCLF’s SPROUT program financing to purchase equipment and make site improvements on a farm they formerly owned in Wells, Vermont. Now they’re working with new co-packers in the
New York City metro area, having gained access to larger scale farmers’ markets. Financing helped preserve two jobs. walnuthillfarmvt.com



The Vermont Community Loan Fund loaned $660,476 to Vermont’s small businesses, early care & learning programs, affordable housing developers and community facilities in the fourth quarter of 2019, promoting job creation, expanding access to quality care, affordable homes and provision of vital community services throughout Vermont.

The last quarter capped off a strong year for VCLF: 38 loans totaling $4,468,857, leveraging another $11.7 million in project funding from traditional lenders and public & private sources. Last year, VCLF financing created or preserved jobs for 338 Vermonters, quality early care & learning serving 236 children & families, and built or rehabilitated affordable homes for 150 Vermont households.

On December 31st, 2019, VCLF’s loan portfolio consisted of 239 loans with $31 million outstanding, representing employment for 2,213 Vermonters, quality care for 1,379 children & families, affordable homes for 1,081 families and essential services for 35,141 Vermonters.

“The Vermont Community Loan Fund is proud to help finance Vermont’s innovative entrepreneurs, early care & learning providers, affordable housing developers and community facilities throughout our state,” said VCLF Executive Director Will Belongia.

During the fourth quarter of 2019, the Vermont Community Loan Fund provided financing to:

Aunt Sadie’s Candles, Lunenburg
Aunt Sadie’s, manufacturer and seller of hand-crafted scented candles, has previously turned to VCLF to refinance debt and purchase much-needed holiday season inventory. In 2019, they again came to VCLF for a loan to purchase inventory in advance of busy holiday orders. Financing helped preserve four jobs, and created one new one. auntsadiesonline.com

Copper Creamery, Montpelier
Copper Creamery produces loum, an authentic Mediterranean halloumi-style cheese, made exclusively with locally-produced goat and cow milk. VCLF helped them purchase a pasteurizer, cheese molds and testing, cleaning & refrigeration equipment, and to cover installation and consulting fees. The loan helped create one full-time and one part-time position.

Flower Basket, Hardwick
When the Flower Basket, long a fixture in Hardwick, changed hands, the new owners approached VCLF for financing to cover costs including new equipment, inventory and updates to their retail space. Moving forward, they plan to increase their sourcing of local flowers. The loan helped preserve two full-time jobs, with plans to add two more in the near future. theflowerbasketvt.com

Gray Building Coalition, Northfield
In 2003, the nonprofit Gray Building Coalition purchased Northfield’s historic former schoolhouse, known as The Gray Building, to redevelop it as a community resource center. With VCLF financing, its classrooms were renovated and repurposed as community space and rental spaces for local businesses and nonprofit community groups. Last year, VCLF financed additional renovations to prepare the facility for sale to a new nonprofit owner. Financing helped preserve the facility serving 5,800 Vermonters annually.


Magic Mountain Ski Area, Londonderry
First opened in 1960, Magic Mountain was purchased by new owners in 2016. Since taking over the mountain, they’ve grown their revenues in every category, with annual skier visits increasing by 30%. Hoping to continue that growth, they
came to VCLF for help financing a new quad chairlift, along with new marketing strategies. The loan helped preserve six fill-time, year-round jobs and 85 part-time seasonal jobs. An additional six jobs will be created. magicmtn.com


Northeast Kingdom Learning Services, Newport

Northeast Kingdom Learning Services, a nonprofit organization, started in the mid-1960s as an Office of Economic Opportunity adult literacy program. Across five decades, they’ve provided programming including family literacy, migrant education, tobacco and substance abuse programming and more. NEKLS came to us last year as they planned to open a child care facility, Newport’s Ready, Set, Grow Child Care Center. Financing has resulted in quality early care & learning serving 98 children & families, and 16 new jobs. neklsvt.org/tempwebsite

Sawyer Made, Woodbury
Sawyer Made fine woodworking has been making historic reproduction and other hand-crafted chairs from locally-sourced wood since 1982. They also offer classes in chair-making and woodworking. Recently, upon receiving a Working Lands Enterprise Initiative grant that partially funded the renovation of their carriage barn, they approached VCLF for help completing the work. The project will enable the business to double class enrollments, create gallery and event space, and more.This loan preserves one full-time job, with the creation of a new job anticipated in the near future. sawyermade.com

Summit Properties’ 101 Mahoney Avenue, Rutland
Summit Properties is a Vermont-based, private developer of affordable housing recognized for award-winning senior housing communities. They came to VCLF for financing to help purchase a pre-existing affordable senior complex . The loan resulted in the rehabilitation of 22 affordable homes, and the creation of 27 construction jobs.

Walnut Hill Farm, Pawlet
Walnut Hill Farm owners previously used VCLF’s SPROUT program financing to purchase equipment and make site improvements on a farm they formerly owned in Wells, Vermont. Now they’re working with new co-packers in the
New York City metro area, having gained access to larger scale farmers’ markets. Financing helped preserve two jobs. walnuthillfarmvt.com



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