Any natural person or entity whose project meets the following criterion may apply for a VASF loan:

1. (1) The industrial and nonfood production processes of the project utilize South Dakota agricultural products; or

2. (2) The food, feed, and fiber products and uses of the project utilize South Dakota agricultural products and add to the value of South Dakota agricultural products.

   Any proposal aimed solely at business expansion or creation without regard to agricultural product utilization, any proposal that cannot reasonably be expected to result in a viable commercial application, or any proposal that is or has been duplicated by other research efforts or an existing business is not eligible for a VASF loan.

Source: 34 SDR 68, effective September 13, 2007.

General Authority: SDCL 1- 16G-5 , 1-16G-8(6).

Law Implemented: SDCL 1-16G-5 , 1-16G-8(6) , 1-16G-25 to 1-16G-27 , inclusive.