Loan program — Vermont Code § 3522
Vermont Code § 3522 — Loan program. Reproduced from the official Vermont Statutes Online, with a citation summary, verification link, and related provisions.
§ 3522. Loan program
- (a) The State Economic Opportunity Office shall administer a low-interest loan program. (b) Loans may be made to persons unable to obtain conventional financing for the purpose
of establishing or expanding or renovating a child care facility in this State. The
terms of the loans shall be determined by the State Economic Opportunity Office, but
shall not be made in an amount in excess of $10,000.00 to any single applicant, nor
at a rate to exceed eight and one-half percent, simple interest per annum. (c) A Child Care Facilities Financing Revolving Loan Fund shall be established for the
Child Care Facilities Financing Program within the State Economic Opportunity Office
of the Agency of Human Services. The Fund shall contain appropriations provided for
that purpose and all repayments of principal and interest of loans under this section.
Interest earnings may be used for administration of this Program. (d) The Director of the Office of Economic Opportunity shall establish by rule, the criteria,
conditions, and procedures that will be used in administering the provisions of this
subchapter. (Added 1987, No. 206 (Adj. Sess.); amended 1995, No. 188 (Adj. Sess.), § 7; 2005, No. 174 (Adj. Sess.), § 113.)
Source: official Vermont text · Last verified 2026-08-27
At a glance
- Citation: Vermont Statutes Online § 3522
- Jurisdiction: Vermont
- Code: Vermont Statutes Online
- Subject: Loan program
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Vermont Statutes Online. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Vermont attorney.
Common questions
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What subject does Vermont Statutes Online § 3522 address?
It addresses "Loan program". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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