Vermont — PPP Loan Data
21,697 approved loans · $1.76B total · 98.2% forgiven
Vermont ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 21,697 loans totaling $1.76B to businesses and organizations across the state. The average loan size was $81,232.
Of all approved loans, 21,309 — or 98.2% — received SBA forgiveness totaling $1.75B. Forgiveness means the borrower was not required to repay that portion, having met the program's requirements for maintaining payroll and using funds for qualified expenses such as rent, utilities, and mortgage interest.
Among the largest recipients in Vermont were PC CONSTRUCTION COMPANY ($9,739,107), BRATTLEBORO RETREAT ($7,804,895), and GW PLASTICS INC ($5,974,800).
Borrowers in Vermont reported retaining 198,486 jobs through the program, though job counts are self-reported and were not independently verified at the time of application. The state's businesses spanned a wide range of industries, from construction and hospitality to professional services and health care.
The most active industry in Vermont by loan count was Accommodation and Food Services with 1,239 loans totaling $122.9M. This was followed by Residential Building Construction (770 loans).
The most active lender in Vermont was MANUFACTURERS AND TRADERS TRUST, which originated 2,752 loans worth $342.9M. The top 10 lenders collectively handled a significant portion of the state's total loan volume, reflecting the role of large national banks as primary conduits for PPP funds.
Loans under $150,000 — which make up the majority of loan count — have borrower names withheld under FOIA Exemption 6. Only the approximately 0.1% of loans at or above that threshold have named recipients publicly disclosed.
Top Cities in Vermont
| City | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| BURLINGTON | 1,631 | $172.0M | 98.2% |
| SOUTH BURLINGTON | 1,004 | $144.2M | 98.0% |
| RUTLAND | 687 | $61.1M | 98.1% |
| WILLISTON | 662 | $97.8M | 97.7% |
| BARRE | 651 | $51.6M | 99.2% |
| MONTPELIER | 604 | $41.2M | 98.2% |
| ESSEX JUNCTION | 595 | $47.7M | 98.2% |
| BRATTLEBORO | 594 | $65.4M | 99.2% |
| COLCHESTER | 532 | $78.2M | 97.9% |
| STOWE | 475 | $37.1M | 98.1% |
| SAINT ALBANS | 422 | $36.8M | 98.3% |
| SHELBURNE | 386 | $29.9M | 98.4% |
| MIDDLEBURY | 375 | $32.3M | 99.2% |
| BENNINGTON | 371 | $35.5M | 97.0% |
| MANCHESTER CENTER | 332 | $23.2M | 98.8% |
| WHITE RIVER JUNCTION | 310 | $30.8M | 97.7% |
| NEWPORT | 266 | $22.8M | 98.1% |
| WAITSFIELD | 259 | $18.0M | 98.8% |
| MILTON | 259 | $18.0M | 96.1% |
| MORRISVILLE | 256 | $32.5M | 99.2% |
| WATERBURY | 249 | $22.6M | 98.4% |
| SAINT JOHNSBURY | 222 | $29.2M | 99.1% |
| WOODSTOCK | 219 | $17.2M | 98.2% |
| WINOOSKI | 200 | $30.6M | 95.0% |
| LYNDONVILLE | 178 | $9.3M | 99.4% |
Top Industries
| Industry | Loans | Total |
|---|---|---|
| Accommodation and Food Services | 1,239 | $122.9M |
| Residential Building Construction | 770 | $32.7M |
| Personal Care Services | 725 | $13.3M |
| Offices of Other Health Practitioners | 694 | $26.2M |
| Management, Scientific, and Technical Consulting Services | 587 | $36.3M |
| Building Equipment Contractors | 576 | $60.5M |
| Services to Buildings and Dwellings | 550 | $20.3M |
| Automotive Repair and Maintenance | 545 | $23.5M |
| Traveler Accommodation | 491 | $72.5M |
| Other Specialty Trade Contractors | 476 | $36.1M |
Top Lenders
| Lender | Loans | Total |
|---|---|---|
| MANUFACTURERS AND TRADERS TRUST | 2,752 | $342.9M |
| COMMUNITY NATIONAL BANK | 1,783 | $150.0M |
| NORTHFIELD SAVINGS BANK | 1,698 | $139.6M |
| TD BANK | 1,355 | $193.4M |
| MASCOMA BANK | 1,052 | $82.0M |
| VERMONT 504 | 974 | $38.7M |
| UNION BANK | 970 | $83.8M |
| EASTRISE FEDERAL CREDIT UNION | 924 | $28.2M |
| CITIZENS BANK | 864 | $47.9M |
| COMMUNITY BANK | 799 | $108.2M |
Largest Named Recipients in Vermont
Showing loans ≥ $150,000 with publicly disclosed borrower names.