Irene helps break VEDA lending record - WCAX.COM Local Vermont News, Weather and Sports-

Irene helps break VEDA lending record

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By WCAX News - bio | email
BURLINGTON, Vt. -

A state lending group says it had a record year -- in part because of Tropical Storm Irene.

The Vermont Economic Development Authority, or VEDA, announced Friday it made more than $17 million in emergency loans because of the storm. VEDA said it made 299 emergency loans to farms and businesses.

The group's director said Vermont businesses and farms continued to rely heavily on VEDA's flexible, low-interest financing programs because of Irene and the deep national recession.  Overall, the group made more than $54 million  in loans, setting a record for VEDA.

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