§ 5-28-9-14 — Priority rating of applicant for loan

Indiana § 5-28-9-14

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 9: Industrial Development Program and Fund

Text

(a) The state board of finance and the
corporation shall determine and ascribe to an applicant for a loan a
priority rating. The rating must be based primarily on the need of the
qualified entity for a proposed program or on the need of the small
business investment company or minority enterprise small business
investment company for the loan as the need is related to the needs of
other applicants for loans.
(b) The qualified entities, small business investment companies, or
minority enterprise small business investment companies with the
highest priority rating shall be given first consideration when loans are
made under this chapter. The loans shall be made in descending order
as shown by the priority ratings.

Legislative History

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