Storms and mini tornadoes have pelted northeast Victoria, injuring up to 20 people and damaging dozens of homes and businesses.

The powerful storms hit the Murray River towns of Yarrawonga, Bundalong and Rutherglen about 8pm (AEDT) on Thursday, the SES said.

Ambulance Victoria spokesman Peter Swan said paramedics had responded to dozens of calls, with some people suffering serious injuries from flying debris.

"We are on standby expecting that there may be other patients around this morning," he said on Friday.

"This is certainly a very unusual event to occur in Victoria."