The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
012
:
VERMONT ENTREPRENEURIAL LENDING PROGRAM
(Cite as: 10 V.S.A. § 280aa)
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§ 280aa. Findings and purpose
(a)(1) Vermont-based businesses in seed, start-up, and growth stages are a vital source of
innovation, employment, and economic growth in Vermont. The continued development
and success of these businesses is dependent upon the availability of flexible, risk-based
capital.
(2) Because the primary assets of Vermont-based businesses in seed, start-up, and growth
stages often consist almost entirely of intellectual property or insufficient tangible
assets to support conventional lending, these companies frequently may not have access
to conventional means of raising capital, such as asset-based bank financing.
(b) To support the growth of Vermont-based businesses in seed, start-up, and growth stages
and the resultant creation of higher-wage employment in Vermont, the General Assembly
hereby creates in this subchapter the Vermont Entrepreneurial Lending Program. (Added 2009, No. 54, § 28, eff. June 1, 2009; amended 2013, No. 179 (Adj. Sess.), § F.100; 2013, No. 199 (Adj. Sess.), § 4.)