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Vermont Economic Development Authority (VEDA) Rates
Every attempt is made to assure VEDA's most current rates are posted, however VEDA reserves the right to adjust its rates. Please contact a VEDA representative to assure you have the most current rate information. Direct Loans - Subchapters 3 and 5For a limited time, under the Direct Loan Program umbrella, the Economic Recovery and Opportunity Program (EROP) will make $18 million in loan funds available to eligible and qualified borrowers at a variable rate as low as Wall Street Journal Prime, minus 3%, with a floor of 2%. This special low interest rate will apply for the first three years of the loan, after which a borrower's loan rate will revert to VEDA's applicable below-market rates. The EROP rate will be in effect until all available funds have been committed. The eligibility, uses and limitations of the EROP will match those of VEDA's Direct Loan Program. | | Programs | Rates | APR | | | | VEDA Prime Rate | 2.75%* | .50% of loan amount ($2,500 maximum fee) | | | | | VEDA Tax-Exempt Rate | 2.25%* | .50% of loan amount ($2,500 maximum fee) | | | | | VEDA Base Rate | 3.75% ** | .50% of loan amount($2,500 maximum fee) | | | | * Rates will change as interest rates and market conditions fluctuate.
** The VEDA Base Rate is an unsubsidized interest rate offered to certain borrowers
Click Here for a history of VEDA Taxable Commercial Loan Rates
Click Here for a history of VEDA Tax-exempt Commercial Loan Rates
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Mortgage Insurance (Subchapter 2) | | Programs | Rates | Fees | | | | Subchapter 2 | Set by lending institution | 1.50% of insured amount
Application Fee: $1,000 | | | Return to top
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Industrial Revenue Bonds (Subchapter 4) | | Programs | Rates | Fees | | | | Subchapter 4 | Set by Bond Purchaser | Commercial Borrowers: .625%
| | | | | | | Non-Profit Borrowers: .50% (less than $25 Million) | | | | | | | Non-Profit Borrowers: .25% (greater than $25 Million) | | | | | | .25% for refunding bonds | | | Return to top
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Vermont 504 | | Programs | Term | Rates | | | | Vermont 504 | 10 Year | Note Rate: 2.53%* | | | | | 10 Year | Effective Rate: 4.72%* | | | | | 20 Year | Note Rate: 3.86%* | | | | | 20 Year | Effective Rate 5.67%* | | | | | * Rates are fixed for the life of the loan at closing and are set monthly. Note rates shown are for debentures funded on the previous funding date. Effective Rates include fees. | Return to top
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Small Business Loans | | Programs | Rates | Fixed APR | Fees | | | | Small Business Loans | Small Business Index (Fixed at Closing), Floor of 5% | Fixed Rate 5.50% | Application fee: $100
Commitment fee: 1.25% of loan amount ($250 minimum, capped at $2000).
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VACC Agricultural Loans | | Programs | Rates | Fees | | | | VACC Agricultural Loans | 4.50% Variable ** | Closing Fee of .50% of loan amount up to maximum of $1,500 | | | | | Fixed rates available on loans over $100,000 | Guarantee Fee (if applicable) | | | | *Rates will change as interest rates and market conditions fluctuate.
**VACC Prime Rate + 0.50%. VACC Prime is 4.00% and last changed on 2/1/2009
Click Here for a history of VACC Prime | Return to top
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