Economic Development Loan Fund (Virginia)
Last modified on February 12, 2015.
|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|
|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
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.
|Contact Name||Barbara Carter|
|Department||Virginia Department of Business Assistance|
|Division|| Virginia Small Business Financing Authority
|Phone|| (804) 371-8254