South Carolina Statutes
§ 11-56-70 — Use of grants.
A grant made by the department to a microloan delivery organization may be used to:
(1)satisfy matching fund requirements for other federal or private grants;
(2)establish a revolving loan fund from which the microloan delivery organization may make loans to microenterprises;
(3)establish a guaranty fund from which the microloan delivery organization may guarantee loans made by financial institutions to microenterprises; and (4) provide funding for the operating costs of a microloan delivery organization.
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South Carolina § 11-56-70 (Use of grants.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2014 Act No. 171 (H.3125), SECTION 1.A, eff January 1, 2014.
Nearby Sections
10
§ 11-56-10
Short title.§ 11-56-100
Regulations.§ 11-56-20
Definitions.§ 11-56-30
Purpose of chapter.§ 11-56-40
Microenterprise Partnership Program.§ 11-56-50
Criteria for awarding grants.§ 11-56-60
Grant of authorized funds.§ 11-56-70
Use of grants.§ 11-56-90
Annual report.