Annual Reports

Some of VEDA’s recent Annual Reports may be downloaded from this page. This requires Adobe Acrobat Reader 5.0 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, 2019:

“…In FY 2019, VEDA approved 231 new loans totaling $87.9 million, with $56.7 million in the commercial / small business sector, $6.9 million in the renewable energy sector and $22.3 million in the agricultural sector.

VEDA approved a record 57 loans totaling $10.5 million in its small business loan program this past year. We are proud of the growth in our small business lending, knowing that small businesses are a primary driver of new job creation. Other highlights in our direct commercial lending activities included downtown redevelopment projects, a significant job retention project in southern Vermont, and continued steady demand for solar projects. Over the last five years, VEDA’s direct commercial lending has provided $165 million in loans and leveraged over $444 million in private capital to support over $609 million in projects across our state.

For the first time in many years, loan approvals for the agricultural sector were down significantly from prior years due to the continuation of low milk prices. The Farm Operating Loan Program (“FOLP”), created by the 2018 Legislative Special Session, enabled VEDA to help over 31 dairy farms (to date) by making low interest loans for crop planting and refinancing high-rate debt. We are starting to see an improvement in milk prices, but input costs remain high. On a more positive note, we are encouraged by the resilience and perseverance of Vermont’s farmers and their willingness to pursue diversification strategies. While our dairy portfolio has grown by approximately $20 million over the past six years, dairy loans, as a percent of our total agricultural loans, have decreased from 68% to 59%.

At June 30, 2019, VEDA had $316 million in total assets. Its loan portfolio totaled $279.1 million, up from $266.7 million a year ago, with 55% in direct loans to businesses, 41% in agricultural loans via the Vermont Agricultural Credit Corporation and 14% 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, 2019 and 2018 (and Report of Independent Auditors), click here


Additional financial information may be obtained by contacting VEDA.