Electric Vehicle Workplace Charging Station Loan Program
Administered by Vermont Economic Development Authority
This loan program helps Vermont businesses install new Level 2 EV charging stations with financing up to 80% of project costs (maximum $25,000) at fixed rates of 4% for 3-year terms or 5% for longer terms up to 5 years. To qualify, you must be a Green Mountain Power customer or customer of another utility with a similar program, have a good payment history, acceptable credit, and at least one year of business tax returns; apply online or contact VEDA at EV@veda.org or (802) 828-5627.
You can serve customers seeking Level 2 workplace charging installation through this program—VEDA will finance up to 80% of project costs to a $25,000 maximum after your installation is complete and verified. Work with GMP-approved or utility-vetted charging equipment vendors, as the loan only funds after the utility confirms the installation meets standards.
VEDA administers this fixed-rate loan program (4% for 3 years, 5% for up to 5 years) in partnership with Green Mountain Power and other qualifying utilities, funding up to 80% of EV charging equipment and installation costs to a $25,000 cap for for-profit businesses, nonprofits, municipalities, and cooperatives. The program targets underserved, minority, veteran, and women-owned businesses; loans require personal guarantees from owners with 20%+ stake unless the borrower is a nonprofit or has no single majority owner, and funds only after vendor installation verification.
Program details
- Program ID
- 22507
- Last updated
- 6/19/2025
Eligibility
- Sectors
- commercial local government nonprofit cooperative utilities
- Technologies
- level-2 electric vehicle service equipment
Program summary
The Electric Vehicle Workplace Charing Station Loan Program is operated by the Vermont Economic Development Authority (VEDA) working in conjunction with Green Mountain Power (GMP). Electric vehicle charging stations are available for profit or not-for-profit businesses, municipalities, or individuals owning or leasing a business property to an otherwise eligible business and installing a new EV Charging station(s). These include individuals, sole proprietors, LLCs, corporations, cooperatives, not-for-profits, and municipalities.
Eligible applications must be customers of GMP or another electric utility with a similar EV charging station program that is acceptable to VEDA. Eligible projects may include the purchase and installation of EV charging equipment and connection to the utility.
The loan may fund up to 80% of the project cost at a max of $25,000. Interest rates will be fixed at 4% for terms of 3 years and fixed at 5% for loans with a longer term (max of up to 5 years).
Contact & resources
- Contact email
- EV@veda.org
- Additional resources
Please verify current program details with the administering agency before making any financial decisions.
