Section 25299.102 Of Chapter 6.76. Loans For Replacing, Removing, Or Upgrading Underground Storage Tanks From California Health And Safety Code >> Division 20. >> Chapter 6.76.
25299.102
. The board shall only make loan funds available to loan
applicants that meet all of the following eligibility requirements:
(a) The loan applicant is a small business, either as defined in
Section 632 of Title 15 of the United States Code, and in the federal
regulations adopted to implement that section, as specified in Part
121 (commencing with Section 121.101) of Chapter I of Title 13 of the
Code of Federal Regulations, or employs fewer than 500 full-time and
part-time employees, is independently owned and operated, and is not
dominant in its field of operation. In either case, the principal
office of the small business shall be domiciled in the state, and the
officers of the small business shall be domiciled in this state. The
board shall give priority to awarding loans to small businesses that
meet the definition of small business specified in subdivision (d)
of Section 14837 of the Government Code.
(b) The loan applicant owns or operates a project tank.
(c) The loan applicant demonstrates the ability to repay the loan,
and the availability of adequate collateral to secure the loan.
(d) All tanks owned and operated by the loan applicant are subject
to compliance with Chapter 6.7 (commencing with Section 25280), and
the regulations adopted pursuant to that chapter.
(e) The loan applicant has complied, or will comply, with the
financial responsibility requirements specified in Section 25299.31
and the regulations adopted pursuant to this section.