The Virginia Capital Access Program (CAP), in partnership with Virginia’s Small Business Financing Authority, provides access to capital for small businesses. Businesses must apply to participating banks for a traditional loan, and the lender advises the company of enrollment in CAP. The program offers loan guarantees on a portfolio of loans through a loan loss reserve, which it establishes at each participating bank. Funds can be used for general working capital and fixed-asset financing. The maximum loan amount is $250,000.
A permit is required for any activity within a Class I or Class II wetland or wetland buffer zone which is not an allowed use. Activity in Class I or Class II wetland or its associated buffer zone is prohibited unless it is an allowed use or authorized by a permit, etc. Applicants have the burden to show that a proposed activity in Class I or Class II wetland or its buffer zone complies with rules and will not have undue adverse effect on protected functions and values.
The Vermont Sustainable Job Fund offers grants, loans, and technical assistance. VSJF's grant-making depends on the funds it raised and its strategic market development focus. Grant proposals are solicited through an RFP process or for particular initiatives. The current focus is on the intersection between renewable energy, sustainable agriculture, and sustainable forest products.
The Vermont Seed Capital Fund increases the amount of investment capital available to new Vermont firms or to existing Vermont firms for the purpose of expansion. The first $5 million of capitalization contributed by taxpayers on or before January 1, 2014. Lesser of 4% of contribution or 50% of tax liability prior to allowance of this credit. There is a four year carry forward. Maximum aggregate credit 20% of contribution. Credit is nontransferable except from an involuntary transfer of interest in the credit.
The Act 250 program provides a public, quasi-judicial process for reviewing and managing the environmental consequences of major developments in Vermont. The program is implemented through 9 district commissions. The district commissions review criteria such as impacts on water and air quality, water availability, soil erosion, transportation impacts, impacts to natural and scenic beauty, and conformance with local and regional plans.
These regulations are intended to protect public health and the environment by comprehensively regulating the generation, storage, collection, transport, treatment, disposal, use, reuse, and recycling of hazardous waste in Vermont.
The purpose of the Employment Growth Incentive (VEGI) is to encourage job creation in Vermont by a Vermont company, a Vermont division of a company that plans to grow and expand in Vermont, a company considering locating a new business or division in Vermont, or a Vermont start-up business activity. VEGI can provide a cash payment, based not the revenue return generated to the state by prospective qualifying job and payroll creation and capital investments, to businesses that have been authorized to earn the incentive and who then meet performance requirements.
This section of the air quality standards applies to all major sources and major modifications and outlines the required control technology to achieve the most stringent emission rate. Emission reductions and emission reduction credits for various pollutants are explained in this section.
The ambient air quality standards are based on the national ambient air quality standards. The Vermont standards are classified as primary and secondary standards and judged adequate to protect public health and welfare. The standards apply to sulfur oxides, particulate matter, carbon monoxide, ozone, nitrogen dioxide, and lead.
The Vermont 504 Loan Program makes SBA 504 loans to eligible borrowers whose business net worth is no more than $15 million and whose average net profit after taxes does not exceed $5 million for two prior years. The program uses proceeds of SBA debentures to finance borrowers’ business needs. SBA 504 loans are made in conjunction other third party lenders that normally finance 50% of the Project. The Vermont 504 Corporation’s SBA 504 loan lends up to 40% of the Project amount in a lien position that is junior to the third party lender.