PPP Loan Data: Vermont
Paycheck Protection Program statistics for Vermont. 22,847 loans disbursed, 959 unforgiven and potentially subject to enforcement.
Standard Enforcement Risk0.2% of national total
Avg: $91,907 per loan
$88M outstanding
95.8% forgiveness rate
PPP Program Overview: Vermont
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed 22,847 Paycheck Protection Program loans in Vermont, totaling $2.1B. These loans supported approximately 168K jobs across the state during the COVID-19 pandemic.
Of these loans, 21,888 (95.8%) were fully forgiven. However, 959 loans totaling $88M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
This state has standard-level PPP enforcement activity.
Enforcement Risk in Vermont
Vermont has standard-level PPP enforcement activity. While enforcement is less concentrated here than in major metropolitan states, the DOJ PPP Strike Force operates nationally. Any borrower with an unforgiven loan or application discrepancies remains at risk regardless of geographic location.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against Vermont borrowers for several more years. The 959 unforgiven loans in Vermont represent the most immediate enforcement targets.
Vermont vs. National Average
Frequently Asked Questions: PPP in Vermont
How many PPP loans were issued in Vermont?
Vermont received 22,847 PPP loans totaling $2.1B between April 2020 and May 2021. The average loan size was $91,907, supporting approximately 168K jobs.
How many PPP loans in Vermont were not forgiven?
Approximately 959 PPP loans in Vermont (4.2% of total) were not forgiven, representing $88M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP audit risk level in Vermont?
Vermont is classified as "Standard" enforcement risk. This state has standard-level PPP enforcement activity. Borrowers in Vermont with unforgiven loans or discrepancies in their applications should be aware of ongoing DOJ and SBA OIG enforcement activity.
Can I still face a PPP audit in Vermont in 2026?
Yes. The False Claims Act has a 6-10 year statute of limitations. Since PPP loans were issued in 2020-2021, enforcement actions can continue through 2030-2031. Vermont borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
959 Vermont borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Defense Resources
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Data Sources: U.S. Small Business Administration PPP Data Reports, PandemicOversight.gov, U.S. Treasury Department. Data reflects the full PPP program period (April 2020 – May 2021). Last updated May 2026.