§ 5-28-18-10 — Loan award criteria

Indiana § 5-28-18-10

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 18: Small Business Development Fund

Text

The corporation's criteria for awarding loans
from the fund to a local board must include the following factors:
(1) The extent to which local financial institutions invest and
participate in the local pool.
(2) The extent to which the local pool is used as a secondary
source of financing that complements conventional financing
provided by existing financial institutions.
(3) The local board's knowledge of successful business practices.
(4) The extent to which the local board will target the proceeds of
the loan toward nontraditional entrepreneurs.
(5) The extent to which the local board intends to use the loan
proceeds for investment in debt, equity, debt with equity
attributes, or other forms of creative financing.
(6) The extent to which the local board's proposed program will
encourage clustering of small business programs through
proximity to small business incubators and other sources of small
business assistance and technology transfer.
(7) Other criteria established by the corporation.

Legislative History

As added by P.L.4-2005, SEC.34.