Technology Loan Program


  • Companies whose major activity is offering technology-based goods and services to customers located both inside and outside Vermont.

Use of Proceeds

  • Purchase of capital assets and/or for working capital; and
  • Refinance existing company debt or assets in certain cases.

Loan Rates and Terms

  • Term of loan is based on assets being financed;
  • The Authority may collateralize its loans with mortgages on real estate and/or security interests in project machinery and equipment, an assignment of customer contracts, and/or a security interest in the company’s proprietary technology used by the borrower;
  • Loans also will generally be guaranteed by any entity or individual who owns or controls at least 20% of the company. Flexibility with regard to collateral will be considered if adequate debt service cash flow coverage can be demonstrated;
  • In some cases the Authority may utilize non-conventional financing mechanisms and collateral arrangements including, but not limited to, royalty financing; and
  • VEDA’s interest rate will be based on VEDA’s Base Rate Index, as adjusted from time to time, plus 3%. Please click here for current interest rates.


  • VEDA may not fund more than ninety percent (90%) of the cost of the project. Typically, the borrower will be required to provide the remaining ten percent (10%) of the total project cost; and
  • The maximum amount of any TLP loan is $250,000.


  • 1% commitment fee;
  • $250 minimum to $2,000 maximum;
  • $50 credit report fee;
  • $18 flood insurance certification (if required);
  • Appraisal reimbursement (if applicable);
  • Document recording/discharge fees; and
  • $100 application fee.

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