The Mad River Food Hub, the CAE Vermont Food Venture Center and the Vermont Community Loan Fund are pleased to announce a new equipment leasing program for food businesses and entrepreneurs.
The Vermont Value-Added Producer Equipment Access Program will help emerging food business by creating access to specialized equipment that will help them increase production and enhance product quality. Participants will have worked with a food business incubator for at least 3 months, have annual revenue of over $20,000, be planning to use the equipment in Vermont and directly or indirectly source ingredients from Vermont farms and producers.
The Equipment Access Program has been made possible by philanthropic support, in particular from the Castanea Foundation, High Meadows Fund, the Surdna Foundation, the John Merck Fund and the State of Vermont’s Working Lands Enterprise Initiative.
“Food businesses face the challenge of scaling up their operations on a regular basis,” Robin Morris, owner and founder of the Mad River Food Hub in Waitsfield, VT, said. “This program will provide a solution for the clients of the food hub facilities by providing timely access to the critical equipment needed to produce more efficiently.”
The Equipment Access Program is being launched in partnership with the Vermont Community Loan Fund, whose mission is to create opportunities for healthy communities and financial stability for all Vermonters. The Program will be a revolving lease fund, so that as funds are repaid, they will be used again to purchase a new piece of equipment for another food business.
“We expect the Equipment Access Program to grow and serve many working lands businesses,” VCLF executive director Will Belongia said. “The Loan Fund is always looking for new opportunities to grow Vermont’s food and farm economy. We’re thrilled to partner with Vermont’s two food incubator facilities as they provide technical assistance to these businesses.”
“It is particularly exciting that we can collaborate across the state,” said Sarah Waring, executive director of the Center for an Agricultural Economy, which owns and operates the Vermont Food Venture Center in Hardwick. “Between Mad River Food Hub and the VT Food Venture Center, we have over 40 customers who are processing at our facility, and another 50 or so who have been accessing our business advising programs. We definitely have the people to put this new equipment to work!”
Applications are available through the Mad River Food Hub and the CAE Vermont Food Venture Center. For more information, contact Sarah Waring at the Center for an Agricultural Economy, or Robin Morris at the Mad River Food Hub. For more information on the loans and grants available through the Vermont Community Loan Fund, visit www.investinvermont.org
Sarah Waring: Center for an Agricultural Economy 802-472-5362, [email protected],www.hardwickagriculture.org
Robin Morris: Mad River Food Hub, 802-498-7379, [email protected] , www.madriverfoodhub.com
The Vermont Community Loan Fund’s mission is to create opportunities that lead to healthy communities and financial stability for all Vermonters. Since its inception, it has lent almost $85 million to small businesses, affordable housing developers and community-based organizations that has created or preserved over 3,600 jobs; built or rehabilitated more than 3,200 affordable homes for Vermont’s families, individuals and seniors;created or preserved quality care for over 2,800 children and their families and supported community organizations providing vital services to hundreds of thousands of Vermonters.
Source: Vermont Community Loan Fund, August 5, 2014