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Vermont Economic Development Authority (VEDA) RatesDirect Loans - Subchapters 3 and 5
For a limited time, under the Direct Loan Program umbrella, the Economic Recovery and Opportunity Program (EROP) will make $18 million in loan funds available to eligible and qualified borrowers at a variable rate as low as Wall Street Journal Prime, minus 3%, with a floor of 2%. This special low interest rate will apply for the first three years of the loan, after which a borrower's loan rate will revert to VEDA's applicable below-market rates. The EROP rate will be in effect until all available funds have been committed. The eligibility, uses and limitations of the EROP will match those of VEDA's Direct Loan Program. | | Programs | Rates | APR | | | | VEDA Prime Rate | 2.75%* | .50% of loan amount ($2,500 maximum fee) | | | | | VEDA Tax-Exempt Rate | 2.25%* | .50% of loan amount ($2,500 maximum fee) | | | | | VEDA Base Rate | 3.75% ** | .50% of loan amount($2,500 maximum fee) | | | * Rates will change as interest rates and market conditions fluctuate.
** The VEDA Base Rate is an unsubsidized interest rate offered to certain borrowers
Click Here for a history of VEDA Taxable Commercial Loan Rates
Click Here for a history of VEDA Tax-exempt Commercial Loan Rates
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