The Legislature hereby finds and declares that, in this state the protection and improvement of the environment, and the sustainability of small businesses, would be collectively enhanced by the establishment of a revolving low-interest small business environmental loan program, to provide partial relief from the burden small businesses face from compliance with existing and new […]
(a) "Authority" means the West Virginia economic development authority established in article fifteen, chapter thirty-one of this code. (b) "Director" means the director of the West Virginia Division of Environmental Protection. (c) "Division" means the West Virginia Division of Environmental Protection as established in article one of this chapter. (d) "Eligible borrower" means a small […]
(a) Any eligible small business may apply for a small business environmental loan by submitting two identical copies of an application to the authority, on forms provided by the authority. (b) The director shall determine environmental program qualification as provided by section two of this article, and based on the following factors: (1) Pertinent environmental […]
A loan made to an eligible borrower as provided by this article shall: (a) Have an interest rate not to exceed one half of the federal prime interest rate, but in no case may the annual rate be less than four percent: Provided, That environmental loan projects that have been determined by the director to […]
(a) The small business environmental revolving loan account is hereby continued in the authority and shall be made available for environmental loans defined by this article for any type of qualifying environmental project. Loans may be issued only during the five-year period commencing on the effective date of this article unless the time period is […]
The authority shall: (a) Process small business environmental loan applications and assure that a copy is forwarded to the director for eligibility review; (b) confirm that the director has certified the environmental acceptability of the project; (c) verify the borrower's eligibility as provided by section two of this article; (d) evaluate the borrower's financial stability, […]
