As used in this chapter, unless the context requires a different meaning: “CDFI” means a community development financial institution that provides credit and financial services for underserved communities. “Fund” means the Virginia Cannabis Equity Business Loan Fund established in § 4.1-1501. “Funding” means loans made from the Fund. “Program” means the Virginia Cannabis Equity Business […]
There is hereby created in the state treasury a special nonreverting fund to be known as the Virginia Cannabis Equity Business Loan Fund, referred to in this section as “the Fund.” The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and […]
A. The Authority shall establish a Program to provide loans to qualified social equity cannabis licensees for the purpose of promoting business ownership and economic growth by communities that have been disproportionately impacted by the prohibition of cannabis. The Authority shall select and work in collaboration with a CDFI to assist in administering the Program […]
On or before December 1 of each year, the Authority shall report to the Secretary of Public Safety and Homeland Security, the Officer of Diversity, Equity, and Inclusion, the Governor, and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations on such other matters regarding the Fund as […]
