VEDA CEO Joan Goldstein testifies before the Vermont House Commerce and Economic Development Committee (left) and House General and Housing Committee (right) on January 7.
Message from the CEO
Happy February, everyone. I hope you are enjoying our very chilly start to 2026.
We kick off February with some exciting news. VEDA made the 2026 Best Places to Work list for small businesses! We are extremely honored to make this list in 2026 and 2025.
We are also launching a couple surveys as part of our goal to engage in continuous improvement. The 2026 VEDA Borrower Survey is out now. A Partner Survey is in the works. You can read more about the surveys and Best Places to Work recognition below.
Last month I mentioned that were heading to the statehouse to discuss how VEDA could contribute to the state’s economic development by financing commercial housing projects. In January, I testified before:
- House Commerce and Economic Development Committee
- House General and Housing Committee
- Senate Agriculture Committee
- Senate Economic Development, Housing, and General Affairs
They graciously listened and asked questions about our proposal to be able to lend to housing projects that include five units or more. Currently, VEDA only lends to farmworker housing and farmer housing.
We believe this capability will make it easier to build multi-family housing projects in Vermont and the infrastructure they require. As the economic development organization for the state of Vermont, VEDA should play its part to alleviate the housing shortage.
Best,
Joan Goldstein
VEDA CEO
Borrower Survey
In an effort to continuously improve and better serve our borrowers, VEDA has launched its 2026 VEDA Borrower Survey. If you’ve received the link to take it, we hope you participate. It should take no more than 10 minutes to complete. The survey closes on March 3.
A 2026 VEDA Partner Survey is in the works. We plan to distribute it in the coming weeks.
Best Places to Work
VEDA is honored to be named a 2026 Best Places to Work in Vermont. We made the small business category this year and in 2025. Here is a complete list of this year's 65 winners.
Final rankings will be highlighted in the April issue of VermontBiz and there will a special awards presentation on April 2.
New Loans
Our reach was felt far and wide in January. VEDA served customers in Addison, Chittenden, Orange, Rutland, Windham, and Windsor Counties:
- Champlain Valley Grain Center in Ferrisburgh
- Lucas Dairy in Orwell
- Jones’ Donuts and Bakery in Rutland
- Hunter Excavating in South Londonderry
- Dharani Hospitality in South Burlington
- KAD Models & Prototypes in East Randolph
- Blackwell Ink in Springfield
Eliminating Delays
Postal problems in the Capital City persist and there is no immediate end in sight. As we mentioned in the January Newsletter, delays are resulting in some late payments. Chances are those of you who receive statements in the mail are experiencing delays, too.
To eliminate any delays VEDA strongly recommends borrowers sign up to receive their statements electronically and take advantage of VEDA’s ability to accept payments via ACH (an electronic money transfer). Our Director of Servicing Nancy Gonneville can help you do both. Please email Nancy to learn more.
In The Community
In January we attended the Vermont Horse Council Annual Meeting in Monkton (top left) and learned about newly available trails, legislative successes, and how to spot Lyme Disease.
We also sponsored and attended the Vermont Vegetable and Berry Growers Association Annual Meeting at Lake Morey in Fairlee (top right) and the Vermont Chamber of Commerce's Vermont Economic Conference at the Hotel Champlain in Burlington (bottom left and right).
Upcoming Events
We are sponsoring three events in February and hope to see you there:
- NOFA-VT Winter Conference at St. Michael’s College in Colchester on February 14.
- Vermont Dairy Producers Conference at the DoubleTree by Hilton in South Burlington on February 17.
- The No-Till and Cover Crop Conference at the DoubleTree by Hilton in South Burlington on February 19.
Borrower Spotlight
Caledonia Spirits’ newest offering, Phyllis Rye Whiskey, was featured on WCAX’s Made in Vermont segment. Caledonia Spirits is already known for its Barr Hill Vodka, Gin, and Tom Cat Gin.
The Vermont Agency of Agriculture highlighted Holly Menguc-Palisson from Tup’s Crossing Farm in Orwell as part of their ongoing celebration of the International Year of the Woman Farmer.
Agriculture Opportunities
Dairy Margin Coverage Enrollment
Enrollment is underway for the 2026 Dairy Margin Coverage (DMC) Program. DMC helps offset the gap between milk prices and feed costs during periods of financial stress. There are several coverage options available and farmers can enroll for up to six years. Learn more from the Farm Service Agency. Enrollment closes February 26.
Value-Added Producer Grant
USDA Rural Development is accepting applications for Value-Added Producer Grants. The grants help producers develop new products, expand marketing opportunities, and increase income by enhancing the value and reach of their goods.
Soil Testing
The UVM Soil Health Research and Extension Center (SHREC) is accepting soil samples. This service is available to all Vermont farmers and gardeners. SHREC offers five different tests. They cost between $12.50 and $27 each.
Meet the Board
Lindsay Kurrle, Vermont Commerce Secretary and VEDA Board Member
Lindsay Kurrle serves as Vermont’s Commerce and Community Development Secretary and sits on VEDA’s Board.
“VEDA expands access to capital, moves quickly, and is flexible,” she says. “I see VEDA as a very important partner to the Agency of Commerce and Community Development (ACCD) because it’s financing businesses and farms that support jobs, ensuring communities can be vibrant and viable. If we didn't have a partner like VEDA, many of those really great business plans would never come to fruition.”
Lindsay first became aware of VEDA many years ago when she and her husband were business owners seeking a loan.
“We were taking on something we had never done before. VEDA sometimes can support businesses where maybe traditional lending doesn’t, or they can come in as a braided partner.”
She is also grateful that VEDA created the Disaster Recovery Loan Fund. Federal money allowed ACCD to financially support many businesses during recent flooding, but that money is now gone.
“It was a different time, and things are tight again. So having the Disaster Recovery Loan Fund fills an enormous gap because we know we'll experience these things in the future.”
She just joined the board this summer and is excited to learn even more about VEDA.
“I work alongside some incredibly bright people who serve on the board, as well as the staff. They're so professional and knowledgeable. I feel gratitude just for the opportunity to do this, and I don't take it lightly.”
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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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