The latest from Vermont's economic development finance organization.
Message from the CEO
Another Thanksgiving is in the books and it is definitely looking like December! I was fortunate to enjoy some turkey with family in Michigan this year. I hope you were all able to spend the holiday with loved ones.
November was a very successful month at VEDA. We continued to support Vermont businesses, farms, foresters, and nonprofits as they pursue their dreams and contribute to Vermont’s economic success. As you read on you will learn about some of these new investments.
The race is on to the end of 2025. This is the busiest time of year for many of our clients in the retail sector. We hope that when you do your holiday shopping you will consider buying Vermont products.
In addition to saying goodbye to 2025, VEDA will also be saying goodbye to Pete Samson. For the last six-plus years Pete has been our Chief Lending Officer, fearlessly guiding our loan officers and investments. I am grateful for his dedication and professionalism and wish him all the best in retirement.
As always, we are available to discuss your business goals. We pride ourselves on being flexible and accommodating. So even if you don’t see something on our website that fits your exact needs, please reach out to us so we can talk through the possibilities with you. You can reach us via our website, email, or call us at 802-828-JOBS (5627).
Wishing you all Happy Holidays and success in 2026.
Best,
Joan Goldstein
VEDA CEO
New Loans
VEDA is proud to finance businesses and agriculture across Vermont. Below are some of the loans we’ve closed in the last six weeks with organizations in Addison, Bennington, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Orleans, and Washington Counties.
- Landgrove Inn in Landgrove
- Roadside Pint in Island Pond
- Goulet Farm in South Hero
- Stony Pond Farm in Fairfield
- Elysian Fields in Shoreham
- Ackermann Dairy in Hardwick
- Champlainside Farm in Bridport
- Essex House & Tavern in Island Pond
- 149 Quarry Hill LLC in Barre
- Red Hen Bakery in Middlesex
- Belter Family Partnership in South Burlington
- Pine Crest Motel & Cabins in Barton
- Coventry Cuts & Style in Coventry
Strengthening Partnerships
VEDA is committed to forging and maintaining strong partnerships in the lending community. Many projects we fund involve partners like Community National Bank, Mascoma Bank, and the Farm Service Agency.
If you work in banking and want to join forces with us, please reach out to Director of Commercial Lending Eun-Young Denny or Director of Agricultural Lending Andy Wood.
Disaster Relief
VEDA’s Disaster Recovery Loan Fund (DRLF) is up and running and has closed its first loan to an agricultural operation in Chittenden County. DRLF is available to aid in recovery from the 2023 and 2024 floods as well as recent drought. Learn more about eligibility and terms.
Agriculture Resources
The 2025 Agriculture Drought Impact Survey closes December 15. Farmers are encouraged to participate. Results will help guide state decision-making should resources become available.
UVM Extension is offering a six-week Nutrient Management Planning course in January and February. Specific dates to be announced soon. Pre-coursework is required.
List your farmstand, events, tours, or farm stay for free on VermontVacation.com. Create an account here to add your business to the statewide events calendar managed by the Vt. Dept. of Tourism and Marketing.
In The Community
November Events
VEDA was out and about in November. We sponsored the 7th Annual Vermont Outdoor Economy Summit in East Burke (top), the 15th Annual Farm to Plate Gathering in East Burke (middle left), and the American Dairy XPO in Essex Junction (bottom right).
We also celebrated 30 years of the Vermont Manufacturing Extension Center which advises the state’s manufacturers and advocates on behalf of this essential sector of Vermont’s economy (bottom left), and we attended Destination BTV which unveiled a new tourism marketing campaign and feasibility study for a convention center in the greater Burlington area (middle right).
Celebrating Maple
VEDA will be at the Vermont Maple Conference on Saturday, December 13 at Vermont State University-Randolph. Stop by our booth to learn more about how VEDA supports this growing and sweet sector of Vermont’s economy.
Borrowers in the News
ABC22/FOX44 reports on Vermont's success at the International World Cheese Awards in Switzerland. Vermont producers brought home 33 awards including former borrower Jasper Hill in Greensboro which won “Super Gold” for its Withersbrook Blue.
WCAX covered Red Hen Bakery’s move to a new space in Middlesex partly funded by VEDA.
Borrower Spotlight
This past month we’ve spotlighted three VEDA borrowers on our website.
- Weidmann Electrical Technical in St. Johnsbury is using a VEDA loan towards the creation of its “Center of Excellence”. The expansion is expected to create dozens of high-paying jobs.
- Beaudoin’s Farm in Jeffersonville dreamed of going solar for years. This summer VEDA got them the financing to finally put up panels and reduce their carbon footprint.
- VEDA has partnered with ShackletonThomas in Bridgewater for decades. They showed off their table and other creations above at VEDA's Annual Meeting & Luncheon and will have more wares on display this Saturday at their Holiday Open House.
Farewell Pete
VEDA’s Chief Lending Officer Pete Samson is retiring from VEDA at the end of the year. Pete joined us in 2019 after working 28 years as a commercial banker in southern New England.
As Chief Lending Officer, Pete oversaw the Agricultural and Commercial lending teams. During his tenure, Pete is proudest of VEDA’s response to a number of statewide emergencies that helped countless companies pivot and thrive through difficult times.
Pete is an avid skier who lives in the Mad River Valley. We hope his winter is full of powder days.
Meet the Board
Karyn Hale, VEDA Board Chair
Karyn Hale of Waterford is a Vermont native who knows how to get things done. In addition to being Chief Financial Officer, Chief Operating Officer, and Treasurer of Union Bank, she is also the new Chair of the VEDA Board of Directors.
“I’m a lifelong Vermonter, so I have a personal interest in the success and overall development in the state of Vermont, as well as a professional interest.”
Karyn says her goals as Chair are to continue to facilitate a smooth transition with new CEO Joan Goldstein, deploy capital to businesses that need it to support economic development, and encourage VEDA to be more involved in housing development.
“I think overall I need to continue to reinforce the foundation we’ve built at VEDA and keep the strong financial position that’s been developed while we work to meet the mission.”
Part of that mission is filling funding gaps.
“Traditionally people go to their primary bank to look for financing and sometimes their needs don’t fit into preexisting lending models. VEDA is often able to provide assistance when others can’t.”
Karyn wants the business, agriculture, forestry, and nonprofit communities to know that VEDA is here to assist them and help them achieve their goals.
“Being able to provide them with the capital that’s needed to make them successful, that’s pretty rewarding.”
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Created by the Legislature in 1974, VEDA is Vermont's economic development finance organization helping create jobs and advance the state's public policy goals.
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