Updated: May 4, 2021
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.
Stay tuned to this page for updates as they become available.
COVID-19 Relief Financing
- Paycheck Protection Program (PPP)
SBA Restaurant Revitalization Fund (SBA Website)
- This grant program, which is part of the American Rescue Plan, will be administered and handled directly by the SBA. The program will provide $28.6 billion in funding for restaurants, food stands, bars, bakeries, brewpubs, and other establishments serving food and beverages on-premises who have experienced pandemic-related losses.
- Priority funding will be directed to businesses that are at least 51% owned by one or more individuals who are either women, veterans, or socially and economically disadvantaged.
- Eligible businesses will be able to apply through an online application portal coming soon to the SBA’s website, or through an SBA-recognized Point-of-Sale Restaurant Partner.
- The application portal opens on May 3. Click this link to access the portal.
- SBA Debt Relief Program (SBA Website)
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.
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.
- 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)
- 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)
Make sure to follow these links for the most up-to-date news and guidance from our partners, including: