Economic Development Loan Fund (Virginia)

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Last modified on February 12, 2015.

EZFeed Policy

Place Virginia


   
Applies to States or Provinces Virginia
Name Economic Development Loan Fund (Virginia)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Virginia Small Business Financing Authority
Primary Website http://www.vabankers.org/economic-development-loan-fund



Last Review 2014-09-15



Summary

The Economic Development Loan Fund helps to fill the financing gap between private debt financing and private equity. Up to $1 million is available for each project and can be used for the acquisition of land or facilities, or the purchase of machinery or equipment. Projects must create new jobs or “save” jobs in underserved or distressed areas. Eligible businesses include those engaged in technology, and those that provide for a locality’s economic and “quality of life” development.



Policy Contact

Contact Name Barbara Carter
Department Virginia Department of Business Assistance
Division Virginia Small Business Financing Authority




Phone (804) 371-8254


Email Barbara.Carter@vdba.virginia.gov

     
     


















References