Arkansas § 15-4-2502 Fifty-percent loan subsidy program

Arkansas Statutes

§ 15-4-2502 — Fifty-percent loan subsidy program

Arkansas § 15-4-2502

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This text of Arkansas § 15-4-2502 (Fifty-percent loan subsidy program) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-4-2502 (2026).

Text

(a)The Arkansas Economic Development Commission shall institute a program to make participation loans that are originated by approved community lenders for small businesses in this state.

(b)The commission's participating share of any qualified loan shall not exceed fifty percent (50%) of the total loan amount, and the commission's share shall be in an amount not less than two thousand five hundred dollars ($2,500) and not more than forty thousand dollars ($40,000).

(c)The commission shall share on a pari passu basis with the originating community lender all collateral, guarantees, repayments, and recoveries on loans made in this program.

(d)The commission shall give preference to high-unemployment counties.

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(a) The Arkansas Economic Development Commission shall institute a program to make participation loans that are originated by approved community lenders for small businesses in this state. (b) The commission's participating share of any qualified loan shall not exceed fifty percent (50%) of the total loan amount, and the commission's share shall be in an amount not less than two thousand five hundred dollars ($2,500) and not more than forty thousand dollars ($40,000). (c) The commission shall share on a pari passu basis with the originating community lender all collateral, guarantees, repayments, and recoveries on loans made in this program. (d) The commission shall give preference to high-unemployment counties.