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Small Business Environmental Compliance Assistance Fund The Virginia Department of Environmental Quality (DEQ) has entered into a cooperative agreement with the Virginia Department of Business Assistance (DBA) to develop and administer a revolving loan program. Through this program low-interest rate loans are available to small businesses for the purchase and installation of replacement equipment needed to comply with the Clean Air Act; or to implement voluntary pollution prevention measures; or for the implementation of selected voluntary agricultural best management (BMPs) practices as listed in the Virginia Agricultural BMP Manual. Some examples of eligible loan uses include high-volume, low-pressure spray guns, dry cleaning machines, alternative curing technologies, ultrasonic cleaning equipment to replace a solvent system, debarkers and chippers, and agricultural BMPs that include equipment or structures such as animal waste control facilities and animal waste structure pumping equipment. Loans may not be used to comply with an enforcement action by DEQ, the State Air Pollution Control Board, the State Water Control Board, the Virginia Waste Management Board, or the Department of Agriculture and Consumer Services. Interest rates on these loans will be fixed at 3%. The maximum loan amount is $100,000.00 per borrower and repayment terms will be based upon the borrower's ability to repay and the useful life of the equipment, or the life of the agricultural BMP. There is an application fee of $30.00. Applicants must complete the VSBFA application and submit it to VSBFA with all attachments for consideration. Loans may only be made to qualified businesses defined as small businesses that meet the definition of a small business found in § 10.1-1197.1 of the Code of Virginia; e.g., the business employs 100 or fewer people; and is a small business concern as defined in the federal Small Business Act (15 U.S.C. § 631 et seq.) as amended.
About the VDBA | Virginia Business Information Center | Small Business Development |
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