Vermont Community Loan Fund (VCLF) is a nonprofit, mission-driven financial institution that transforms lower-income Vermonters' lives through access to capital. We offer our investors a safe, stable opportunity to direct a portion of their portfolio towards community development, putting that capital to work in the development of local businesses, affordable housing, childcare & other community-based organizations.
- Affordable Housing LendingVCLF believes that a safe, affordable home is the cornerstone of any family's stability. We provide financing for single- and multi-family housing projects, for individuals to purchase mobile homes in nonprofit parks, and to private landlords for the safe rehabilitation of affordable rental properties.
- Community Facilities LendingVCLF believes that communities are most healthy when enriched by the work of strong community-based organizations. Many of our family members, neighbors and friends depend on such organizations for their quality of life. Our borrowers include health centers, libraries, shelters, eldercare facilities, arts organizations, nonprofits and educational institutions.
- Business LendingVCLF believes that our local businesses are central to Vermont's character and our communities' economic health. We strive to preserve our natural working landscape and provide high-quality jobs for lower-income Vermonters, providing financing to a variety of businesses, ranging from production agriculture to manufacturing facilities, to restaurants and retail stores.
- Childcare LendingThe lack of quality childcare slots has reached epidemic proportions throughout Vermont. Lower-income Vermonters who need state subsidies to help cover their childcare costs have been hit the hardest. Committed to finding a solution, VCLF provides financing and technical assistance to home- and center-based providers for facility and program improvements.
Founded to drive community and economic development, VCLF is also committed to social change and economic empowerment. We have always supported Vermonters with worthy ideas and ideals, but lacking access to the capital that can bring them to life: 88% of our borrowers have a household income at or below 80% of area median income. 84% of VCLF's borrowers come from rural communities; around 50% are women. Among others, we work with home-based childcare providers, local business owners, family farmers, mobile home-owners, community-based organizations and nonprofit housing developers, providing the capital, technical assistance, and other support that ensure their success.
VCLF has provided almost $55 million in financing, creating or retaining jobs for 1,700 Vermonters, 2,700 safe, affordable homes for families, seniors and individuals, and 1,700 desperately needed childcare slots. We've enjoyed very significant growth in the last decade: our total assets have grown 408%, at an annualized growth rate of 20%, and our lending volume has increased a staggering 520%, at a 23% annualized growth rate. In 2008 we closed 44 loans totaling over $3.5 million, demonstrating strong financial performance and steady growth even in a challenging economic climate.
Thanks to the Vermont Community Loan Fund, Christine Tullgren has opened a different kind of child care facility in rural Vermont. While the North Thetford center still provides high quality and safe care for children from ages six weeks to six years, Christine’s center has received a unique certification for providing a physically healthy environment. Full Story