§210D-9  Loans; limitation and terms. Loans made under this chapter shall be for the purposes and in accordance withthe terms specified in paragraphs (1) and (2) and shall be made only toapplicants who meet the eligibility requirements specified therein.

(1)  Community-based enterprise establishment andimprovement loans may be made to provide for:

(A)  The start-up costs, purchase orimprovement of a community-based enterprise or working capital; and

(B)  The purchase, construction, or improvementof facilities; and

(2)  Operating loans may be made to carry on andimprove an existing enterprise, including:

(A)  The purchase of equipment; and

(B)  The payment of production and marketingexpenses including materials, labor, and services.

The loans shall be for an amount not to exceed$250,000 and for a term not to exceed ten years. [L 1990, c 111, pt of §2; am L1996, c 192, §9; am L 2009, c 124, §6]