South Carolina § 11-56-60 Grant of authorized funds.

South Carolina Statutes

§ 11-56-60 — Grant of authorized funds.

South Carolina § 11-56-60

Title 11PUBLIC FINANCE

Ch. 56MICROENTERPRISE DEVELOPMENT

This text of South Carolina § 11-56-60 (Grant of authorized funds.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 11-56-60 (2026).

Text

Authorized funds may be awarded as a grant to a microloan delivery organization if:

(1)the authorized funds granted are matched by the microloan delivery organization with nonstate funds equivalent in money or in kind equal to one dollar for each one dollar of the grant funds requested. These matching funds may be secured from any nonstate source, including private foundations, federal or local government sources, quasigovernmental entities, or financial institutions or from any other entity whose funding source does not include funds appropriated by the General Assembly; and (2) at least fifty percent of microloan funds are disbursed by the microloan delivery organization in microloans that do not exceed ten thousand dollars.

Free access — add to your briefcase to read the full text and ask questions with AI

Authorized funds may be awarded as a grant to a microloan delivery organization if: (1) the authorized funds granted are matched by the microloan delivery organization with nonstate funds equivalent in money or in kind equal to one dollar for each one dollar of the grant funds requested. These matching funds may be secured from any nonstate source, including private foundations, federal or local government sources, quasigovernmental entities, or financial institutions or from any other entity whose funding source does not include funds appropriated by the General Assembly; and (2) at least fifty percent of microloan funds are disbursed by the microloan delivery organization in microloans that do not exceed ten thousand dollars.