An excerpt from the Annual Report for the fiscal year ended June 30, 2014:
“… This report marks VEDA¹s 40th year of providing flexible and innovative financing opportunities to help Vermont¹s businesses and farms grow and create jobs.
In FY 2014, the Authority closed 254 separate financings totaling $59.8 million, compared with 226 closed loans in FY 2013 totaling $64.3 million. The Authority¹s FY 2014 financings leveraged private capital totaling almost $82 million. Of the loans VEDA closed in FY 2014, 33% were for commercial projects, 31% were agricultural loans, 23% were tax-exempt conduit bonds, and 14% were for small business projects. This year, with the help or your Administration and that of Legislative Leaders, VEDA was able to develop the Entrepreneurial Loan Program to help meet the working capital and capital-asset financing needs of Vermont- based businesses in seed, start-up and growth stages.
Today, VEDA has $234 million in Assets under management, with a loan portfolio at June 30, 2014 reflecting an industry mix of 33% agriculture, 21% services, 18% manufacturing, 14% tourism, 8% wholesale/retail trades, and 6% other commercial. Since its inception in 1974, VEDA has approved 7,395 separate financing instruments totaling over $2.07 billion, including direct commercial loans of over $352 million, agricultural loans exceeding $261 million, and since 1987, small business loans totaling almost $65 million. These significant achievements would not have been possible without the unflagging efforts of a talented professional Staff, a dedicated Board of Directors, and the strong collaborative relationships the Authority has with Vermont¹s economic development partners…”
To review VEDA’s Financial Statements with Supplementary Information as of and for the Years Ended June 30, 2013 and 2012 (and Report of Independent Auditors), click here.
To review VEDA’s Financial Statements with Supplementary Information as of and for the Years Ended June 30, 2011 and 2010 (and Report of Independent Auditors’), click here.
To review VEDA’s Financial Statements with Supplementary Information as of and for the Years Ended June 30, 2010 and 2009 (and Report of Independent Auditors’), click here.
Additional financial information may be obtained by contacting VEDA.