Annual Reports

Some of VEDA’s recent Annual Reports may be downloaded from this page. This requires Adobe Acrobat Reader 6.0 or later. If you do not have Adobe Acrobat Reader click here.

An excerpt from the Annual Report for the fiscal year ended June 30, 2020:

“…In addition to the COVID-19 disaster relief work, VEDA approved $63.4 million in loans from its traditional programs to 176 business and agricultural borrowers. Total commitments to the commercial and small business sectors was $20.5 million, with another $11 million in renewable energy and $10.2 million in the agricultural sector. VEDA approved 59 loans totaling $9.6 million for small businesses last fiscal year, breaking our record of 57 loans in FY 2019. With the negative impact COVID-19 has had on our economy, it’s an encouraging sign to see the strength and resilience of many of Vermont’s small businesses and farmers.

VEDA’s loan approvals in the agricultural sector continue to trend down, similar to last year. This was largely the result of continued weak commodity pricing in the dairy industry in the early part of the year, combined with a drop in dairy purchases as a result of the pandemic during the latter part of the year. While dairy continues to be the largest component of our agricultural portfolio and accounted for 24% of VEDA’s total loan portfolio at June 30, we are also seeing increased demand from other agricultural producers and farming enterprises, such as maple, crops and forestry, all of which are working hard to add diversity and value to the Vermont farming economy.

VEDA originated $11 million in financing to 20 renewable energy borrowers in FY 2020. We’ve now invested in 144 solar projects which are generating 41.531 MW AC for Vermont, enough to power 7,500 homes. Other lending highlights include continued financing of affiliate partner programs like the Brownfields Revitalization Fund, which this past year supported environmental clean-up of worksites in St. Albans and Berlin.

At June 30, 2020, VEDA had $316.7 million in total assets. Its loan portfolio totaled $278.6 million, with 50.6% in direct loans to businesses, 32.4% in agricultural loans via the Vermont Agricultural Credit Corporation and 17% in small business loans via the Vermont Small Business Development Corporation and Vermont 504 Corporation…”


Audited Financial Statements

To review VEDA's Financial Statements with Supplementary Information as of and for the Years Ended June 30, 2020 and 2019 (and Report of Independent Auditors), click here


Additional financial information may be obtained by contacting VEDA.