New fund is “Justice Forward”
VERMONT - The Vermont Community Loan Fund has launched the Justice Forward Fund, a new financing and business assistance resource for Black, Indigenous, and Vermonters of color.
A special purpose credit program, the JFF provides low-/no-cost loans and free-to-the-borrower business development services. The JFF serves Vermonters traditionally, systemically, and generationally excluded from financial markets and services, including BIPOC Vermonters and new Americans.
Benefiting Vermonters who have not yet had the opportunity to build wealth, the JFF features the lowest borrower interest rates in VCLF’s portfolio of loan programs, no greater than 3%. Applicants with lower net worth will qualify for reduced interest rates, as low as 0%.
The Justice Forward Fund eliminates many of the most common barriers to capital access. The JFF features the following unique characteristics that differentiate it from other VCLF loan programs: a streamlined loan application process, no fees, no credit score requirement, no collateral requirement, and interest rates from 0% to 3%.
Nonfinancial support for JFF borrowers includes access to VCLF’s Business Resource Center, which offers free-to-the-borrower assistance with planning and business development, financial management and personal coaching, succession planning, marketing, and more.
The Justice Forward Fund will make loans of up to $40,000. To learn more visit investinvermont.org/borrowers/justice-forward-fund.html or contact email@example.com.