VERMONT ENERGY INVESTMENT CORPORATION
PPP Loan approved Apr 5, 2020 through Manufacturers and Traders Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,391,900.00 | 100.0% |
About This Loan
VERMONT ENERGY INVESTMENT CORPORATION received a PPP loan of $5,391,900 approved on Apr 5, 2020. The loan was originated by Manufacturers and Traders Trust Company.
VERMONT ENERGY INVESTMENT CORPORATION is a non-profit organization located in WINOOSKI, Vermont. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Management, Scientific, and Technical Consulting Services industry (NAICS 541690), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 302 jobs as retained through this loan.
No forgiveness has been recorded for this loan in the SBA's September 2024 data release. Possible explanations include: the borrower chose to repay rather than apply for forgiveness; the forgiveness application was denied; the loan was still in repayment status at the time of the data freeze; or the borrower defaulted, leading to a charge-off.
According to the SBA's records, the proceeds of this loan were allocated as follows: $5,391,900 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Vermont, visit the Vermont page. To compare this loan with others in the same industry, see the Management, Scientific, and Technical Consulting Services industry page.