Loan Guaranty Program (Virginia)
Last modified on February 12, 2015.
|Applies to States or Provinces||Virginia|
|Name||Loan Guaranty Program (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|
|Program Administrator||Virginia Small Business Financing Authority|
| Last Substantive Modification
The Loan Guaranty Program is designed to help small businesses obtain funds to start, enhance, or expand their operations, and create new jobs. To qualify, businesses must have $10 million or less in annual revenues over the last three years; or have a net worth of $2 million or less; or have fewer than 250 employees; or be a non-profit. The maximum guaranty is $750,000 or 85% of the loan amount, and the lines of credit are provided on an annual basis, with up to four renewals.
|Contact Name||Barbara Carter|
|Department||Virginia Department of Business Assistance|
|Division||Virginia Small Business Financing Authority|