Must be in Vermont
We currently provide financing to Vermont-based businesses only.
You can borrow between 75% and 90% of projected costs, depending on your project type.
Depending on your project needs, we offer terms from 5 to 15 years.
Improve cash flow
Concerned about cash flow? We can amortize your loan for up to 25 years so you pay less over the term of your loan.
Your down payment will go into your project prior to any disbursements of additional loan funds.
We will disburse funds at the completion of each stage of construction.
After the construction loan period is completed we can refinance your loan into a traditional mortgage.
A contractor must provide contract, blueprints, copies of permits, description of materials & insurance proof.
Sewage systems must be designed by a professional engineer registered with the State of Vermont.
Up to six physical inspections will be made during the construction phase by a qualified appraiser.
What you'll need to apply:
- A completed, signed, and dated Business Loan Application
- Current signed Personal Financial Statement for each principal, owner, or guarantor on the loan
- Business tax returns (all schedules) and/or financial statements for the last 3 years
- Personal tax returns (all schedules) for each principal, owner, or guarantor of the loan for the last 3 years
- Current business financial statement (balance sheet and income statement)
- High-level proposed budget for construction project