Working Lands Enterprise Initiative - Grant FUNDING AVAILABLE
Today, the Working Lands Enterprise Board (WLEB) is delighted to announce the opening of this year's grant cycle and the availability of approximately $650,000 in grants funds for the 2017 program year. Funds support projects across forestry and agriculture that enhance Vermont's communities, economy and culture. Links to the requests for proposals and applications can be found online at
http://workinglands.vermont.gov/apply/rfp. Applicant Information Sessions are scheduled for October 6th and 11th at various locations across the state.
In addition to the grant program, the WLEB has created two innovative new loan pilots in partnership with the Vermont Community Loan Fund (VCLF) and the Vermont Economic Development Authority (VEDA) to support working lands entrepreneurs and dairy farms that are transitioning to organic production. Funding for these loan pilots was provided by Charles and Leigh Merinoff, Progressive Farm Alliance, and Long Trail Brewing Company.
The partnership with VCLF has launched SPROUT Deferred Payment Loan Program (SPROUT), a low-interest revolving loan fund that will meet the capital needs of Vermont's working lands entrepreneurs. SPROUT offers deferred-payment, low-interest loans of up to $60,000 at 0% with no payments for the first two years, with a 2% fixed rate thereafter. VCLF will also coordinate comprehensive business development and financial planning/management technical assista
nce for borrowers as needed.
"SPROUT financing will provide a powerful tool for emerging working lands businesses which are facing exciting growth opportunities," says VCLF Executive Director Will Belongia. "There isn't a loan product like SPROUT currently available to working lands entrepreneurs in Vermont. SPROUT's rates and terms will allow VCLF to extend financing and free technical assistance to businesses that otherwise wouldn't qualify for a VCLF loan. The Working Lands Enterprise Initiative has been an incredible partner in supporting working lands businesses in Vermont."
For more information about the program contact Dan Winslow, VCLF Business Programs Loan Coordinator, at dan@vclf.org, or visit
http://www.investinvermont.org/borrowers/small-business/sprout
Business Investments: $5,000-$50,000
RFP AVAILABLE: 10/3/16
LETTER OF INTENT DUE: 11/9/16 at noon
APPLICANT NOTIFICATION OF ACCEPTANCE/DENIAL OF LETTER OF INTENT: Late December 2016
INVITED FULL APPLICATION DUE: 2/9/17 at noon
APPLICANT NOTIFICATION: March 2017
ESTIMATED PROJECT START DATE: Late April 2017
Projects may include, but are not limited to: Infrastructure (project-specific planning, permitting, and/or engineering/architectural plans; and/or building and equipment costs); Marketing (accessing new markets and securing new customers); Research and Development (testing new systems or technologies or developing innovative solutions).
Applicant Info Sessions:
Thursday, October 6th, 4:00-4:30 - Chapter 1 Webinar: Overview of the Working Lands Enterprise Program and Eligibility Requirements
Tuesday, October 11th, 3:30-4:30 - Chapters 2 & 3: Navigating the Grants Management System (GMS) and Creating Your Budget
Applicant Info Sessions will be hosted at the following locations:
* Agency of Agriculture, Food and Markets, 2nd Floor Conference Room, 116 State Street, Montpelier, VT, 05620, phone: 802.585.9072
o RSVP Required - Noelle.Sevoian@vermont.gov
* Northern Vermont Development Association, 36 Eastern Avenue, Suite 1, St Johnsbury, VT, 05819, Second Floor Conference Room
o Contact David Snedeker - dsnedeker@nvda.net
* Springfield Regional Development Corporation, 14 Clinton Street Suite 7, Springfield, VT, 05156
o Contact Bob Flint - bobf@springfielddevelopment.org
* Rutland Economic Development Corporation, 67 Merchants Row, Suite 1, Rutland, VT 05701
o Contact Sarah Gilbert - sara@rutlandeconomy.com
* Windham County Economic Development Program, Brattleboro Development Credit Corporation, 76 Cotton Mill Hill, Brattleboro, VT 05301
o Contact RT Brown - rbrown@brattleborodevelopment.com
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