The objective of the Verona Economic Development Commission (VEDC) Revolving Loan Fund is to provide capital financing to encourage business development within the city. VEDC loans are intended to be used in conjunction with conventional private financing to fill in financing needs and gaps and to serve as an economic development tool to encourage business expansion, employment opportunities, and investment in the community. While encouraging development, principal and interest payments on the loans provide for the recapitalization and growth of the VEDC.
Applications may be submitted by a sole proprietor, Chief Executive Officer, or other authorized representative of any business wishing to expand an existing operation or establish a new operation in the city of Verona.
For additional information on the Verona Economic Development Commission Loan Fund, please contact the City Administrator via email or by phone at 845-6495.