Mortgage Insurance Program

Eligibility

  • Eligible facilities include manufacturing, travel and tourism, information technology, financial services, research and development, and others as defined in statute;
  • Loans may be insured for the acquisition of land and buildings, machinery and equipment or working capital; and
  • Contact VEDA‘s office to determine eligibility for specific projects.

Loan Rates and Terms

  • Loan rates and terms are determined by the participating lender.

Borrowing Limitations

  • Maximum of 75% of the amount of the bank loan, not to exceed $1 million.

Fees

  • $1,000 nonrefundable application fee due at the time of application; and
  • Current annual insurance fee is 1.5% of the annual insured amount.

Application Process

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