(a) Any applicant for a Small Station Fund loan must demonstrate that the applicant meets the following criteria:
(1) The loan shall be made only to small station owner/operators as defined in eligibility rules established under this section and who also qualify as a “Small Business” under rules established by the Small Business Administration, provided, however, that no loan may be provided to a small station which has a total throughput of 75,001 gallons or more of gasoline and/or special fuel (diesel) products as a monthly average for the 12 months preceding the date of application for the loan;
(2) The loan proceeds for any individual site may not exceed $100,000, and shall be used for a project approved under this section to accomplish one of the following purposes:
a. Installation of air quality protection devices; and/or
b. Replacement of existing underground storage tank systems; and/or
c. Removal and abandonment of underground storage tank systems; and/or
d. Installation of water quality protection devices;
(3) In no event shall the loan proceeds exceed 90% of the total amount required to complete the project for which the loan is made. Applicants must also show proof of ability to repay the Small Station Fund within a time period not exceeding 7 years;
(4) The application for a loan from the Small Station Fund shall be made on or before November 15, 1997, accompanied by a nonrefundable application fee of $250, which shall immediately upon receipt be transferred to the Transportation Trust Fund. No loans shall be made after July 1, 1998;
(5) Such other criteria as may be specified pursuant to subsection (b) of this section; and
(6) The loan for the project to be provided to the small station by the Small Station Fund shall be approved by the Secretary of the Department and the Secretary of the Department of Transportation.
(b) Before making any loan from the Small Station Fund, the Department, in coordination with the Department of Transportation, shall specify:
(1) Standards, consistent with subsection (a) of this section, for determining the eligibility of borrowers and the type of projects to be financed with loans from the Small Station Fund;
(2) Procedures for submitting applications for loans from the Small Station Fund and procedures for approval of such applications;
(3) Conditions for loans from the Small Station Fund consistent with the provisions of subsection (a) of this section; and
(4) Other relevant criteria, standards or procedures.