Vermont Public Radio reports that the Vermont Economic Development Authority (VEDA), Vermont's leading economic development lender, says that "business has dropped dramatically this year." Indeed, this year, "VEDA budgeted more than $10 million in direct loans," but with less than two months remaining in the fiscal year, "only $3.5 million has been loaned." In response, VEDA executive chief Jo Bradley said she "hopes to drive a turnaround" over the next few weeks by providing economic stimulus loans. Recently, "the Legislature approved an economic stimulus package that includes one million dollars for VEDA." VEDA "will use that money to leverage 18 million dollars in loans" and will have "interest rates well below prime."

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