Virginia Small Business Financing Authority
Conservation Incentive Program Fact Sheet

  • Program Name: Virginia Small Business Financing Authority
  • Abbreviation: BMP Loan Program
  • Primary Goal: To provide financial assistance to small businesses by providing loans for the purchase and installation of pollution control equipment to implement voluntary pollution prevention measures or the installation of voluntary agricultural best management practices (BMP's) as listed in the Virginia Agricultural BMP Manual.
  • Contact Agency: Virginia Small Business Financing Authority (VSBFA)
  • Where Applicable: Statewide.
  • Other Sources of Information: Virginia Department of Environmental Quality (DEQ)

Prepared by Virginia State Technical Advisory Committee.

Program Description and Requirements

Loans may only be made to qualified businesses as defined by the Code of Virginia 10.1-1197.1 and the federal Small Business Act (15 U.S.C. #631 et. seq.).

Eligible projects include the installation of voluntary agricultural best management practices (BMPs) as listed in the Virginia Agricultural BMP Manual except for annual practices including Protective Cover for Specialty Crops (SL-8), Small Grain Cover Crop for Nutrient Management (SL-8B) and Legume Cover Crops (WQ-4).

The maximum loan available for each project is limited to $25,000. Interest rate will be fixed at 3%. Loans will be amortized to match the borrower's repayment ability or to coincide with the life expectancy of the equipment, property to be purchased or life span of the agricultural BMP but shall not exceed ten years. There will be a nonrefundable $30.00 application fee.

Applications can be obtained from:
Virginia Small Business Financing Authority
1220 Bank Street
3rd Floor
P. O. Box 446
Richmond, Virginia 23218-0446

Phone: 804.371.8254
Fax: 804.225.3384

All programs, activities, and services of the conservation partnership are available to people on a nondiscriminatory basis regardless of race, color, national origin, religion, sex, age, physical ability, political affiliation, and marital or familial status. We are all equal opportunity employers.

Last modified: Thursday, 06-Nov-2014 10:18:28 EST