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2000 SESSION

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HB 1048 Small Business Growth Fund.

Introduced by: Eric I. Cantor | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Small Business Growth Fund. Increases the maximum amount of funds from the Virginia Small Business Growth Fund that can be used to match any loan from seven percent to 14 percent of the principal amount of the loan. The bill also clarifies that the amount of the deposit that the Virginia Small Business Financing Authority is required to make into any loan loss reserve account at a participating bank or lending institution can exceed the total of the deposits made to the account by the institution and the individual borrower.


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