Direct Loan Program

Small Business Loan Program (VSBDC)

Local Development Corporation Program

Commercial & Agricultural Energy Loan Programs

• Variable interest rates based on VEDA’s cost of funds, typically comparable to bank interest rates.
• Fixed interest rates for up to 5 years. Interest rates may be re-fixed for an additional 5 year period at then prevailing interest rates or converted to VEDA’s variable interest rates.
• Interest rates are adjusted based on the market. Please call for current VEDA variable and fixed commercial interest rates.

• Loans ≤ $1,000,000:  1% commitment fee with a $5,000 maximum*
• Loans > $1,000,000:  0.5% commitment fee, with no cap.
• Minimum commitment fee of $250
• $30 Credit Report fee
• If applicable:  Appraisal fee (or Commercial Engineering Report on Solar loans), Document Recording fee, Flood Certificate fee and other out-of-pocket fees.

Tax-Exempt 501(c)(3) & Small Issue Manufacturing Revenue Bond Programs

• Interest rates on tax exempt bonds issued by VEDA may be variable or fixed and are negotiated between borrower and bond purchaser(s).

Issuance fee:  

• 501 (c) (3) Non-Profit bonds: 0.5% of bond;
• Small Issue Manufacturing Bonds: 0.625% of bond for new issue;
• Refunding of bonds originally issued by VEDA: 0.25% of bond issuance

Entrepreneurial Loan Program

• Unguaranteed: fixed interest rates for 5 years. May be re-fixed for an additional 5 year period at then prevailing interest rates or converted to VEDA’s variable interest rates.
• SBA guaranteed: variable WSJ Prime or VEDA 5-year Fixed Rate

• 1% commitment fee with a minimum fee of $250.
• SBA Community Advantage Guaranty: Borrowers are responsible for up-front guaranty fees when required. These fees vary with loan size and term. SBA is currently waiving these fees.
• $30 Credit Report fee

Vermont Agricultural Credit Corporation (VACC)

Variable interest rates or fixed interest rates for 5, 7, or 10 years, with ability to reset fixed rate after initial period.

• USDA Farm Service Agency (FSA) guaranteed interest rates based on WSJ Prime or VEDA Fixed Rate
• Unguaranteed interest rates based on VACC Prime or VEDA Fixed Rate
• Initial interest rates are adjusted weekly based on the markets. Please call for current VEDA Agricultural variable and fixed interest rates.

• Commitment fee of 0.5% ($3,500 maximum) 
• FSA Guaranty fee (if applicable)