Vermont Announces Business Loan Program

A new loan program from the Vermont Economic Development Authority (VEDA) is now available to support businesses in the state’s forest economy. Three million dollars in total financing can be provided in the form of loans up to $500,000 with subsidized interest rates for loggers, foresters, log haulers, biomass producers, sawmills, firewood producers and wood product manufacturers, for working capital, equipment and refinancing. According to the Vermont Forest Futures Strategic Roadmap, the forest-based economy in the Green Mountain State accounts for about $2.1 billion annually and more than 13,800 jobs. Loan proceeds must be used for projects located in Vermont and use forest products at least partially produced in Vermont. Loans can also be used to pay operating expenses; support seasonal working capital needs; and refinance existing debt at more affordable rates and/or terms.

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2024 Logger Survey: Working Tough Ground

Jun 13, 2024 | News

Loggers across the U.S. responded to Timber Harvesting’s recent 2024 Logger Survey, which showed that contractors in all parts of the country are having a tough time grappling with rising costs and dropping demand in some areas. For example, for the first time ever across 20-plus years of logger surveys, the number of loggers who rate their company’s financial health “poor” (9%) to “very poor” (21%) outnumber those who say “good” (21%) to “very good” (7%)—30% to 28% overall in favor of the negatives.