VEDA is closely monitoring all ongoing developments of COVID-19. Our primary focus is the safety and well-being of our borrowers and employees, as well as implementing COVID-19 relief programs to help Vermont businesses and farms.
We are fully operational but all four of our offices are closed to the general public until further notice. Essential staff are available on-site to ensure consistent business operations and customer service but the rest of our staff is working remotely from home, like many other companies and institutions in Vermont. We are fully equipped, able and ready to continue to service all needs.
If you'd like to reach one of us, please email or call directly. Our staff directory can be found here and general inquiries can be directed to (802) 828-5627 or info@veda.org.
Stay tuned to this page for updates as they become available.
COVID-19 Relief Financing
- Paycheck Protection Program (PPP)
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For loan forgiveness information, visit our loan forgiveness page.
- For full program details, visit the SBA website.
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Economic Recovery Bridge Program Opens to Additional Businesses
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As of July 7, 2021, the Vermont Agency of Commerce and Community Development (ACCD) is expanding eligibility for its Economic Recovery Bridge Program. (Grants to be awarded are capped at $150,000.) With this change, ACCD is now accepting applications from organizations that have received prior State of Federal assistance. Under the expanded guidelines, organizations that can demonstrate; 1) a 2020 tax loss; and 2) that the organization suffered a net loss when aggregating the results of their monthly profit and loss statements for the period from March 2020 – April 2021 including the amount of prior state and federal assistance, are eligible to apply. The Agency will continue to give priority to applicants who have not yet received any prior benefit. In addition, businesses in the tourism, travel, and hospitality industries will also be given priority.
For more information on the program, including a pre-recorded tutorial on how to apply, visit the ACCD COVID-19 Recovery Resource Center.
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- SBA Debt Relief Program (SBA Website)
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The SBA has various debt relief programs for SBA borrowers impacted by COVID-19, including 7(a), 504 and Microloans. This includes making loan payments for SBA guaranteed loan borrowers for at least three months starting in February 2021.
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Contact your VEDA loan officer or fill out the Contact Us form at the top of this page for information on how to best use these subsidized funds.
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- SBA Shuttered Venue Operators (SVO) Grant (SBA website)
- The SBA is now offering a grant program which includes $15 billion in grants to shuttered venues, to be administered by the SBA Office of Disaster Assistance.
- Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million.
- Apply through the SBA's Online Portal via this link. Application portal to open April 26, accepting pre-registrations now.
- Vermont Expanded Economic Recovery Grants (ACCD website)
- The Expanded Economic Recovery Program Grants program is no longer accepting applications.
- Stay tuned to the ACCD website for more information.
- Vermont COVID-19 Agriculture Assistance Programs
- The Dairy Assistance and Agriculture and Working Lands Applications is no longer accepting applications.
- Sign up for the Agency of Ag newsletter to receive program updates.
- Vermont COVID Arrearage Assistance Program (VCAAP):
- This program stopped accepting applications in December 2020. Stay tuned to the Department of Public Service website for current information.
- U.S. Department of Agriculture: Business & Industry Cares Act Program:
- The USDA Business & Industry Cares Act Program has funds available for rural businesses and agricultural producers impacted by COVID-19. Loans must be used as working capital to prevent, prepare for or respond to the effects of the pandemic. Apply by September 2021.
- Apply for this program through your lending institution or VEDA: fill out our Contact Us form or call (802) 828-5627 to speak with a loan officer.
- U.S. SBA Economic Injury Disaster Loans (EIDL) (SBA Website)
- USDA Coronavirus Food Assistance Program (USDA Website)
Helpful Links
Make sure to follow these links for the most up-to-date news and guidance from our partners, including:
Topics: In the News
