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)
VEDA Tax-Exempt Rate 2.25%*
VEDA Base Rate 3.75%*
Technology Loan Program VEDA Base plus 3%
  • $100 Application Fee
  • 1% Commitment Fee
  • $50 Credit Report Fee

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

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)

* Rates will change as interest rates and market conditions 

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 3/31/15!

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
  • 2.11%* (Note Rate)
  • 3.77%* (Includes Fees)
  • 2.85%* (Note Rate)
  • 4.51%* (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; then, adjusting to the variable Small Business Index.
  • Loan application fee is $100;
  • A 1.25% commitment fee is charged on all loans at the time of closing. The commitment fee is capped at $2,000, with a $250 minimum.

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; then, adjusting to the variable Small Business Index.
  • Loan application fee is $100;
  • A 1.25% commitment fee is charged on all loans at the time of closing. The commitment fee is capped at $2,000, with a $250 minimum.

EDA Business Recovery Fund Loan Program

Programs Rates Fees
EDA Business Recovery Fund Loan Program
  • 4% fixed;
  • Loan term generally between 3-5 years.
  • 1.00% commitment fee ($250 minimum and $2,000 maximum);
  • $50 credit report fee;
  • $18 flood insurance certificate (if required);
  • Document recording/discharge fees;
  • No application fee.

Montpelier Heating District Loan Program

Programs Rates Fees
Montpelier Heating District Loan Program Interest rate fixed at 4%
  • A $100 application fee is due at the time of application or can be collected at closing;
  • A 1.25% commitment fee is due at closing.

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
  • One time .5% commitment fee at closing ($250 minimum; $2,500 maximum);
  • FSA fee may be charged for guaranteed loans;
  • Appraisal fee, depending on scope of work.

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
  • One time .5% commitment fee at closing ($250 minimum; $2,500 maximum);
  • FSA fee may be charged for guaranteed loans;
  • Appraisal fee, depending on scope of work.

* 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.

 

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