New Vermont Economic Development Authority program supports those in the woods

By Vermont Economic Development Authority
June 19, 2024
Category: Forestry
Region: United States, US East

New opportunities to participate in creative financing programs with the Vermont Economic Development Authority (VEDA) are now available to those working in the state’s forest economy. The Forestry Loan Program was unveiled June 4. Through this new program, $3 million in financing can be provided in loans, each up to $500,000, with subsidized interest rates. Loggers, foresters, log haulers, biomass producers, sawmills, firewood producers and wood product manufacturers may be eligible for funding to support working capital, equipment and refinancing. The Vermont Forest Futures Strategic Roadmap, the forest based economy in the Green Mountain State accounts for about $2.1 billion annually and over 13,800 jobs. And VEDA, now in its 50th year, is tasked with furthering the state’s workforce, business development and public policy goals — something it continues to do through financing programs that help small business owners grow and create even more jobs. 

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