Virginia Small Business Emergency Bridge Loan Fund; created. (HB1341)

Introduced By

Del. Rob Bloxom (R-Accomack)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Small Business Financing Authority (Authority); Virginia Small Business Emergency Bridge Loan Fund created. Creates the Virginia Small Business Emergency Bridge Loan Fund (the Fund) to provide short-term direct loans to eligible small businesses impacted by a disaster for which a state of emergency has been declared. The bill provides that the Fund shall be managed and administered by the Authority with guidance from the Director of the Department of Small Business and Supplier Diversity and that loans provided from the Fund shall be (i) for a minimum amount of $1,000 up to a maximum amount of $5,000, (ii) provided interest-free, and (iii) repaid by the end of the loan term, which term shall be set by the Authority for a minimum of 90 days but not to exceed 180 days. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2018Committee
01/11/2018Presented and ordered printed 18102773D
01/11/2018Referred to Committee on General Laws
01/19/2018Assigned GL sub: Subcommittee #4
01/23/2018Subcommittee recommends reporting (8-Y 0-N)
01/25/2018Reported from General Laws (22-Y 0-N) (see vote tally)
01/25/2018Referred to Committee on Appropriations
01/29/2018Assigned App. sub: Commerce, Agriculture, Natural Resources & Technology
01/29/2018Impact statement from DPB (HB1341)
02/07/2018Subcommittee recommends continuing to 2019
02/13/2018Left in Appropriations