VEDA Makes $32 Million In Irene Loans

10/29/12 6:06AM

The Vermont Economic Development Authority says it made 299 emergency loans to help Vermont respond to damage caused by Tropical Storm Irene.

Officials say that in one year, the VEDA loan portfolio went from 190 loans totaling $12 million to 480 loans totaling $32 million.

VEDA Chief Executive Jo Bradley says fiscal 2012 was a period of "sustained, dynamic activity at VEDA."

She says in response to the storm, the organization undertook the most aggressive emergency lending program in its history.

VEDA is Vermont's statewide economic development finance lender. It was created in 1974.

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