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Development Authority Approves $10.9 Million In New Loans

The Vermont Economic Development Authority has approved $10.9 million in loans for business and agricultural projects across the state.
The authority announced Wednesday that two separate loans of $1.5 million will go to fund the construction of a hotel in Colchester and a marina in Burlington. Other loans will fund the purchase and refurbishment of a hotel in Stowe and help a brewery in Brandon open a storefront. There is also funding for farms and solar arrays.

The economic development authority is tasked with providing low cost interest options for Vermont businesses with the goal of creating or retaining jobs within the state. It has granted $2.49 billion in financing assistance since its inception.

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