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VEDA Receives More Than $4.4 Million in Funding From US Treasury
By Joe Gullo
MONTPELIER, Vt. - The Vermont Economic Development Authority (VEDA) received funding of more than $4.4 million for lending to Vermont's small businesses from the U.S. Treasury.
A press release says this is the third disbursement from the U.S. Treasury Department's State Small Business Credit Initiative (SSBCI). The disbursement is the final allocation of a total $13.2 million awarded to Vermont by the U.S. Treasury in May, 2011.
“This is great news for Vermont’s small business owners and their employees,” said Governor Peter Shumlin. “VEDA is receiving this third installment after already successfully lending out $8.7 million in SSBCI funding. To date, the federal funds have generated a total of $116.7 million in private sector financing to Vermont businesses. These funds are important to supporting our employers and growing jobs.”
SSBCI was created through the Small Business Jobs Act of 2010. The funding is distributed in Vermont through the Vermont Economic Development Administration's small business lending program.
For more information about VEDA small business loan programs, visit www.veda.org or call (802)-828-JOBS.