Current Rates & Fees

Direct Loans – Subchapters 3 and 5

VEDA’s Direct Loan Rates are variable and based on certain economic development criteria, such as job creation, wages and private leverage. The interest rate on certain projects may be as low as 2%. Generally, rates range from 2.5% to 3.75%.

Programs Rates Fees
VEDA Prime Rate 2.75%*
  • A 1% commitment fee on the VEDA loan amount ($1,000 minimum; $3,500 maximum)
  • No application fee
VEDA Tax-Exempt Rate 2.25%*
  • A 1% commitment fee on the VEDA loan amount ($1,000 minimum; $3,500 maximum)
  • No application fee

 

VEDA Base Rate 3.75%*
  • A 1% commitment fee on the VEDA loan amount ($1,000 minimum; $3,500 maximum)

 

  • No application fee
Entrepreneurial Loan Program*** VEDA Base plus 3%

  • $100 application fee
  • 1.25% commitment fee ($250 minimum and $2,000 maximum)

*    Rates will change as interest rates and market conditions fluctuate.
*** Note:  Loan terms, rates, fees and conditions may vary from those shown above if the loan is enrolled in a government guaranteed loan program.

Commercial Energy Loan Program

Programs Rates Fees
VEDA Prime Rate 2.75%*
  • A 1% commitment fee on the VEDA loan amount ($1,000 minimum; $3,500 maximum)
  • Independent Project Review fee ($700 approximately)
  • No application fee

* Rates will change as interest rates and market conditions fluctuate.

Mortgage Insurance (Subchapter 2)

This Program is not available at this time.

Programs Rates Fees
Subchapter 2 Set by lending institution
  • 1.50% of insured amount – annually
  • Application fee: $1,000

Energy Loan Guarantee Program

Programs Rates Fees
Energy Loan Guarantee Program Set by lending institution
  • 3.0% of insured amount – up front
  • GUARANTEE FEE WAIVED THROUGH 9/30/15!

Industrial Revenue Bonds (Subchapter 4)

Programs Rates Fees
Subchapter 4 Set by Bond Purchaser
  • Commercial Borrowers: .625%; Non-Profit Borrowers: .50% (less than $25 million); .25% (greater than $25 million); .25% for refunding bonds.

Vermont 504

Programs Term Fees
Vermont 504
  • 10 Year
  • 10 Year
  • 20 Year
  • 20 Year
  • 1.92%* (Note Rate)
  • 3.58%* (Includes Fees)
  • 3.03%* (Note Rate)
  • 4.69%* (Includes Fees)

* Note – Rates are fixed for the life of the loan at closing and are set monthly. Note rates shown are for debentures funded on the last funding date. There are additional upfront costs which are typically financed.

Small Business Loan Program

Programs Rates Fees
Small Business Loan Program*** Interest rate fixed at VEDA’s Small Business Index minus 1.5% for 5 years (currently 4%); then, adjusting to the variable Small Business Index.

  • $100 application fee
  • A 1.25% commitment fee on the VSBDC loan amount ($250 minimum; $2,000 maximum)

*** Note:  Loan terms, rates, fees and conditions may vary from those shown above if the loan is enrolled in a government guaranteed loan program.

Small Business Energy Loan Program

Programs Rates Fees
Small Business Energy Loan Program Interest rate fixed at VEDA’s Small Business Index minus 1.5% for 5 years (currently 4%); then, adjusting to the variable Small Business Index.
  • $100 application fee
  • A 1.25% commitment fee on the VSBDC Energy loan amount ($250 minimum; $2,000 maximum)
  • Independent Project Review fee ($700 approximately)

Montpelier Heating District Loan Program

Programs Rates Fees
Montpelier Heating District Loan Program Interest rate fixed at 4%
  • $100 application fee
  • A 1.25% commitment fee on the loan amount

VACC Agricultural Loans

Programs Rates Fees
VACC Agricultural Loans***
3.50% Variable **          or 5.0% Fixed for 5 years; then, adjusting to VACC Prime Rate plus .5% variable

  • .5% commitment fee on VACC loan amount ($250 minimum; $2,500 maximum)
  • FSA fee may be charged for guaranteed loans
  • Appraisal fee, depending on scope of work
  • No application fee

*** Note:  Loan terms, rates, fees and conditions may vary from those shown above if the loan is enrolled in a Small Business Administration guaranteed loan program.

Agricultural Energy Loans

Programs Rates Fees
Agricultural Energy Loan Program 3.50% Variable **or 5.0% Fixed for 5 years; then, adjusting to VACC Prime Rate plus .5% variable
  • .5% commitment fee on VACC loan amount ($250 minimum; $2,500 maximum)
  • FSA fee may be charged for guaranteed loans
  • Appraisal fee, depending on scope of work
  • Independent Project Review fee ($700 approximately)

  • No application fee

* Rates will change as interest rates and market conditions fluctuate.
** VACC Prime Rate, minus 0.50%. VACC Prime is 4.00% and last changed on 2/1/2009.

 

Click here for a history of VACC Prime.

 

Comments are closed.