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.

Latest News

New From Fecon: Disc Hawk Compact Disc Mulcher

Jul 18, 2023 | Innovation Way

Fecon, a global manufacturer of heavy-duty site preparation attachments and forestry accessories, is expanding its line of premier attachments with the launch of the Disc Hawk disc mulcher. Specifically designed for high-flow skid steers and compact track loaders, the attachment increases efficiency where speed and acreage are more important than material size, making it the ideal addition to an existing fleet of mulching equipment. Fecon’s disc mulcher increases productivity with…