Negotiations Continue on Business Grants

Details on the formula and process for providing more grants to business are nearly complete with the total appropriation still in question. This program was approved last year to provide $30 million in grants to businesses impacted the most by the pandemic – lodging, restaurants, wedding venues and other places where people congregate. The formula and criteria for awarding these grants was problematic, leaving $26 million still available. The Vermont Chamber is supporting a new effort to deploy these funds which would provide a VEDA loan that could be converted to a grant quickly, allowing more businesses to access relief faster, without taking on more debt. The Vermont Chamber is fighting to transfer the remaining FY2022 appropriation of $26 million to this effort. These issues will be finalized over the next few weeks.