State Affairs and Government

CHAPTER 42-64.25
Small Business Assistance Program

SECTION 42-64.25-6

§ 42-64.25-6. Micro-loan allocation.

Notwithstanding anything to the contrary in this chapter, not less than ten percent (10%) and not more than twenty-five percent (25%) of program funds will be allocated to "micro loans" with a principal amount between two thousand dollars ($2,000) and twenty-five thousand dollars ($25,000). Micro loans will be administered by lending organizations, which will be selected by the commerce corporation on a competitive basis and shall have experience in providing technical and financial assistance to microenterprises.

History of Section.
(P.L. 2015, ch. 141, art. 19, § 8; P.L. 2018, ch. 47, art. 12, § 15.)