Economic Recovery Program Championed by Vermont Chamber Reaches Successful Conclusion

The VEDA Short-Term Forgivable Loan Program has been fully subscribed. The business relief program provided a total of $17.6 million of financial assistance to 177 businesses whose operations were harmed by pandemic-related economic impacts, such as restaurants, lodging properties, and special events vendors, who were forced to close or severely limit their operations. The average award granted by the program was $99,400. The remaining applications in the queue for review will allow VEDA to allocate the full $19 million closing out the program. This economic development program was successfully advocated for by the Vermont Chamber in the 2022 legislative session.