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§ 1272. Definitions

The following words and phrases when used in this subchapter have the meanings given to them in this section unless the context clearly indicates otherwise: (a) “Board” means the Loan Policy Board of the Virgin Islands Small Business Development Agency established in section 1253(d) of subchapter I of this chapter. (b) “Incubator” means a facility […]

§ 1273. Establishment of program

There is established under the direction of the Virgin Islands Small Business Development Agency a grant, loan, loan guarantee and technical assistance program for the establishment, operation and administration of small business incubators, to be known as the Small Business Incubators Program.

§ 1259. Government contracts

(a) The Director shall take such steps as may be necessary and appropriate, in coordination and cooperation with the heads of all government departments, agencies and authorities, so that contracts, subcontracts, and deposits made by the Government of the United States Virgin Islands or in connection with programs with Government funds are placed in such […]

§ 1260. Coordination

(a) In order to insure that all programs and activities related to the purposes of this chapter are carried out in a coordinated manner— (1) the Director is authorized to call upon other Government departments and agencies to supply such statistical data, program reports, and other materials, information and assistance as he deems necessary to […]

§ 1261. Information center

(a) In order to insure that all programs and activities related to the purposes of this chapter are utilized to the maximum extent possible, and to insure that information concerning such programs and other relevant information is readily available, the Director is authorized as he deems appropriate to collect, prepare, analyze, correlate, and distribute such […]

§ 1262. Duplication of activities

The Director shall not duplicate the work or activities of any other department or agency of the Government of the United States Virgin Islands and nothing contained in this chapter shall be construed to authorize any such duplication unless such work or activity is expressly authorized for in this chapter.

§ 1263. Annual reports; applicants’ files

(a) Not later than 120 days after the close of each fiscal year, the Director shall prepare and submit to the Governor and the Legislature, a full and complete report on the activities of the programs and activities established by this chapter during such year. (b) The Director shall prepare and retain a file on […]

§ 1256. Loan terms and conditions

Loans made pursuant to section 1255 of this chapter (including immediate participation in and guaranties of such loans) shall have such terms and conditions as the Loan Policy Board shall determine, subject to the following limitations— (1) there is a reasonable assurance of repayment of the loan; (2) the financial assistance is not otherwise available […]

§ 1257. Guarantee of rental payments

The Director is authorized, subject to the prior approval of the Loan Policy Board, to guarantee the payment of rents on behalf of any small business concern eligible for assistance under the provisions of this chapter when it is determined that such guarantee is consistent with the purposes of this chapter. In those instances where […]