2025 Microlending

Initiative Application

Apply now through March 31st, 2025

 

VFC Microloan Guidelines

 

  • Viroqua Food Co+op limits our Community Investments (including Microloans) in non-federally secured institutions to 5% of our total cash.

  • An individual farm or business is eligible for a loan of up to $3,500 every twelve months.

  • VFC Microlending Committee shall use Loan Assessment Criteria to review and recommend applicants for loans.

  • The VFC Finance Team shall decide whether to approve the Microlending Committee’s recommendation with consideration of the Co-op’s financial status and compliance with the investments policy of the Co-op and the Microloan Assessment Criteria (see above).

  • A Promissory Note between Viroqua Food Co+op (Lender) and the Microloan Recipient (Borrower) shall be drawn up by the VFC Microlending Committee, approved by the VFC Finance Team, and signed by the Borrower and Lender.

  • VFC Microlending Committee is responsible for working with the borrower to ensure that the terms of the loan are met.

  • Loans are repayable by check or cash payment. Terms will be outlined in the Promissory Note.

  • Loans must be repaid within twelve months or as agreed upon by Borrower and Lender.

 

Questions?

Contact Jennifer McCoy, Marketing & Outreach Manager by clicking below or calling (608) 637-7511