In the News 

VEDA COVID-19 RELIEF NEWS

Jan 6, 2021 9:06:54 AM

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. 

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)
    • PLEASE NOTE:  As previously communicated, VEDA stopped accepting PPP applications on Wednesday, 5/26, @ 5pm to allow time to process ahead of the SBA submission deadline.  

    • For loan forgiveness information, visit our loan forgiveness page

    • For full program details, visit the SBA website
  • 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.

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