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  • Home
  • Financing
    • Overview
    • Commercial Financing
      • Overview
      • Direct Loan Program
      • Small Business Loan Program
      • Entrepreneurial Loan Program
      • Local Development Corporation Program
      • Revenue Bond Program for 501(c)(3)
      • Revenue Bond Program for Manufacturers
      • SBA 504 Program
      • Northeast Kingdom Special Loan Program
      • Broadband Expansion Loan Program
    • Energy Financing
      • Overview
      • Commercial Energy Loan Program
      • Agricultural Energy Loan Program
      • EV Workplace Charging Station Program (GMP)
      • EV Charging Station Program (SIB)
      • Montpelier Heating District Loan Program
    • Agricultural Financing
      • Overview
      • Vermont Agricultural Credit Corporation
      • Farm Operating Loan Program
    • Other Financing Options
      • Overview
      • Brownfields Revitalization Fund
      • State Infrastructure Bank Program
      • State Drinking Water Program
      • Export Assistance
      • Capital Access Program
    • Applications
    • PPP Forgiveness
  • Borrower Stories
  • About
    • Overview
    • What is VEDA?
    • Board of Directors
    • Leadership Team
    • Staff Directory
    • Partners
    • Annual Reports
    • Job Opportunities
  • Board Meetings
    • Meeting Announcements & Agendas
    • Meeting Minutes
  • Announcements
    • TEFRA Hearings
    • News & Press

Short Term Forgivable Loan Program

 

Short Term Forgivable Loan Program

Note:  This program is not yet available.  Please check back. 

The VEDA Short Term Forgivable Loan Program will provide financial assistance to businesses that continue to demonstrate economic harm due to the COVID pandemic.  The applicant must demonstrate economic harm from lost revenue, increased costs, challenges covering payroll, rent or mortgage interest, or other operating costs that threaten the current capacity of the business to weather financial hardships and result in ongoing financial insecurity due to COVID. Maximum loans will be the lesser of (1) $350,000.00; (2) six months of eligible operating expenses; or (3) the amount of the cumulative decline in adjusted net operating income during the COVID-19 public health emergency in 2020 and 2021. Loans can be used to pay for eligible operating expenses, but not for capital expenditures. Forgiveness will be determined upon documentation submitted showing that the loan was used to pay for eligible operating expenses.  Vermont for-profit and not-for-profit businesses with less than 500 employees are eligible to apply.
 

Projects Financed Through This Program...

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58 East State Street, Suite 5,
Montpelier, VT
05602

60 Main Street, Suite 202,
Burlington, VT
05401

381 Exchange Street, Unit A,
Middlebury, VT
05753

36 Eastern Ave #8,
St Johnsbury, VT
05819

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