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
- Applicants are advised to discuss their proposed project with VEDA staff prior to submitting the application; and
- Applications may be downloaded or obtained from the VEDA office.
