IC 5-28-19
Chapter 19. Microenterprise Partnership Program
IC 5-28-19-1 "Microenterprise"
Sec. 1. As used in this chapter, "microenterprise" means a
business with fewer than five (5) employees. The term includes
startup, home based, and self-employed businesses. As added by P.L.4-2005, SEC.34.
IC 5-28-19-2 "Microloan"
Sec. 2. As used in this chapter, "microloan" means a business loan
of not more than twenty-five thousand dollars ($25,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-3 "Microloan delivery organization"
Sec. 3. As used in this chapter, "microloan delivery organization"
means a community based or nonprofit program that:
(1) has developed a viable plan for providing training, access to
financing, and technical assistance to microenterprises; and
(2) meets the criteria and qualifications set forth in this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-4 "Operating costs"
Sec. 4. As used in this chapter, "operating costs" refers to the
costs associated with administering a loan or a loan guaranty,
administering a revolving loan program, or providing for business
training and technical assistance to a microloan recipient. As added by P.L.4-2005, SEC.34.
IC 5-28-19-5 "Program"
Sec. 5. As used in this chapter, "program" refers to the
microenterprise partnership program established under section 6 of
this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-6 Establishment of program; grant limit
Sec. 6. (a) The corporation shall establish the microenterprise
partnership program to provide grants to microloan delivery
organizations.
(b) A grant provided under subsection (a) may not exceed
twenty-five thousand dollars ($25,000).
(c) A microloan delivery organization receiving a grant under this
section must use the grant for the purposes set forth in this chapter. As added by P.L.4-2005, SEC.34. IC 5-28-19-7 Criteria for grants
Sec. 7. To establish the criteria for making a grant to a microloan
delivery organization, the corporation shall consider the following:
(1) The microloan delivery organization's plan for providing
business development services and microloans to
microenterprises.
(2) The scope of services provided by the microloan delivery
organization.
(3) The microloan delivery organization's plan for coordinating
the services and loans provided under this chapter with those
provided by commercial lending institutions.
(4) The geographic representation of all regions of the state,
including both urban and rural communities and neighborhoods.
(5) The microloan delivery organization's emphasis on
supporting female and minority entrepreneurs.
(6) The ability of the microloan delivery organization to provide
business training and technical assistance to microenterprises.
(7) The ability of the microloan delivery organization to
monitor and provide financial oversight of recipients of
microloans.
(8) The sources and sufficiency of the microloan delivery
organization's operating funds. As added by P.L.4-2005, SEC.34.
IC 5-28-19-8 Permitted uses of grants
Sec. 8. A grant received by a microloan delivery organization may
be used for the following purposes:
(1) To satisfy matching fund requirements for federal or private
grants.
(2) To establish a revolving loan fund from which the microloan
delivery organization may make loans to microenterprises.
(3) To establish a guaranty fund from which the microloan
delivery organization may guarantee loans made by commercial
lending institutions to microenterprises.
(4) To pay the operating costs of the microloan delivery
organization. However, not more than ten percent (10%) of a
grant may be used for this purpose. As added by P.L.4-2005, SEC.34.
IC 5-28-19-9 Matching of appropriations
Sec. 9. Money appropriated to the program must be matched by
at least an equal amount of money derived from any of the following
nonstate sources:
(1) Private foundations.
(2) Federal sources.
(3) Local government sources.
(4) Quasi-governmental entities.
(5) Commercial lending institutions.
(6) Any other source whose funds do not include money
appropriated by the general assembly. As added by P.L.4-2005, SEC.34.
IC 5-28-19-10 Disbursal of microloan money
Sec. 10. At least fifty percent (50%) of the microloan money
disbursed by a microloan delivery organization must be disbursed in
microloans that do not exceed ten thousand dollars ($10,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-11 Standards, procedures, and guidelines
Sec. 11. The corporation may prescribe standards, procedures, and
other guidelines to implement this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-12 Use of microenterprise partnership program fund and other funds
Sec. 12. The corporation may use money in the microenterprise
partnership program fund established by IC 5-28-18-7 or any other
money available to the corporation to carry out this chapter. As added by P.L.4-2005, SEC.34. Amended by P.L.1-2006, SEC.130.
IC 5-28-19-13 Reporting requirements
Sec. 13. Before August 1 of each year, the corporation shall
submit to the budget committee a supplemental report on a
longitudinal study:
(1) describing the economic development outcomes resulting
from microloans made under this chapter; and
(2) evaluating the effectiveness of the microloan delivery
organizations and the microloans made under this chapter in:
(A) expanding employment and self-employment
opportunities in Indiana; and
(B) increasing the incomes of persons employed by
microenterprises. As added by P.L.4-2005, SEC.34.
IC 5-28-19
Chapter 19. Microenterprise Partnership Program
IC 5-28-19-1 "Microenterprise"
Sec. 1. As used in this chapter, "microenterprise" means a
business with fewer than five (5) employees. The term includes
startup, home based, and self-employed businesses. As added by P.L.4-2005, SEC.34.
IC 5-28-19-2 "Microloan"
Sec. 2. As used in this chapter, "microloan" means a business loan
of not more than twenty-five thousand dollars ($25,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-3 "Microloan delivery organization"
Sec. 3. As used in this chapter, "microloan delivery organization"
means a community based or nonprofit program that:
(1) has developed a viable plan for providing training, access to
financing, and technical assistance to microenterprises; and
(2) meets the criteria and qualifications set forth in this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-4 "Operating costs"
Sec. 4. As used in this chapter, "operating costs" refers to the
costs associated with administering a loan or a loan guaranty,
administering a revolving loan program, or providing for business
training and technical assistance to a microloan recipient. As added by P.L.4-2005, SEC.34.
IC 5-28-19-5 "Program"
Sec. 5. As used in this chapter, "program" refers to the
microenterprise partnership program established under section 6 of
this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-6 Establishment of program; grant limit
Sec. 6. (a) The corporation shall establish the microenterprise
partnership program to provide grants to microloan delivery
organizations.
(b) A grant provided under subsection (a) may not exceed
twenty-five thousand dollars ($25,000).
(c) A microloan delivery organization receiving a grant under this
section must use the grant for the purposes set forth in this chapter. As added by P.L.4-2005, SEC.34. IC 5-28-19-7 Criteria for grants
Sec. 7. To establish the criteria for making a grant to a microloan
delivery organization, the corporation shall consider the following:
(1) The microloan delivery organization's plan for providing
business development services and microloans to
microenterprises.
(2) The scope of services provided by the microloan delivery
organization.
(3) The microloan delivery organization's plan for coordinating
the services and loans provided under this chapter with those
provided by commercial lending institutions.
(4) The geographic representation of all regions of the state,
including both urban and rural communities and neighborhoods.
(5) The microloan delivery organization's emphasis on
supporting female and minority entrepreneurs.
(6) The ability of the microloan delivery organization to provide
business training and technical assistance to microenterprises.
(7) The ability of the microloan delivery organization to
monitor and provide financial oversight of recipients of
microloans.
(8) The sources and sufficiency of the microloan delivery
organization's operating funds. As added by P.L.4-2005, SEC.34.
IC 5-28-19-8 Permitted uses of grants
Sec. 8. A grant received by a microloan delivery organization may
be used for the following purposes:
(1) To satisfy matching fund requirements for federal or private
grants.
(2) To establish a revolving loan fund from which the microloan
delivery organization may make loans to microenterprises.
(3) To establish a guaranty fund from which the microloan
delivery organization may guarantee loans made by commercial
lending institutions to microenterprises.
(4) To pay the operating costs of the microloan delivery
organization. However, not more than ten percent (10%) of a
grant may be used for this purpose. As added by P.L.4-2005, SEC.34.
IC 5-28-19-9 Matching of appropriations
Sec. 9. Money appropriated to the program must be matched by
at least an equal amount of money derived from any of the following
nonstate sources:
(1) Private foundations.
(2) Federal sources.
(3) Local government sources.
(4) Quasi-governmental entities.
(5) Commercial lending institutions.
(6) Any other source whose funds do not include money
appropriated by the general assembly. As added by P.L.4-2005, SEC.34.
IC 5-28-19-10 Disbursal of microloan money
Sec. 10. At least fifty percent (50%) of the microloan money
disbursed by a microloan delivery organization must be disbursed in
microloans that do not exceed ten thousand dollars ($10,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-11 Standards, procedures, and guidelines
Sec. 11. The corporation may prescribe standards, procedures, and
other guidelines to implement this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-12 Use of microenterprise partnership program fund and other funds
Sec. 12. The corporation may use money in the microenterprise
partnership program fund established by IC 5-28-18-7 or any other
money available to the corporation to carry out this chapter. As added by P.L.4-2005, SEC.34. Amended by P.L.1-2006, SEC.130.
IC 5-28-19-13 Reporting requirements
Sec. 13. Before August 1 of each year, the corporation shall
submit to the budget committee a supplemental report on a
longitudinal study:
(1) describing the economic development outcomes resulting
from microloans made under this chapter; and
(2) evaluating the effectiveness of the microloan delivery
organizations and the microloans made under this chapter in:
(A) expanding employment and self-employment
opportunities in Indiana; and
(B) increasing the incomes of persons employed by
microenterprises. As added by P.L.4-2005, SEC.34.
IC 5-28-19
Chapter 19. Microenterprise Partnership Program
IC 5-28-19-1 "Microenterprise"
Sec. 1. As used in this chapter, "microenterprise" means a
business with fewer than five (5) employees. The term includes
startup, home based, and self-employed businesses. As added by P.L.4-2005, SEC.34.
IC 5-28-19-2 "Microloan"
Sec. 2. As used in this chapter, "microloan" means a business loan
of not more than twenty-five thousand dollars ($25,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-3 "Microloan delivery organization"
Sec. 3. As used in this chapter, "microloan delivery organization"
means a community based or nonprofit program that:
(1) has developed a viable plan for providing training, access to
financing, and technical assistance to microenterprises; and
(2) meets the criteria and qualifications set forth in this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-4 "Operating costs"
Sec. 4. As used in this chapter, "operating costs" refers to the
costs associated with administering a loan or a loan guaranty,
administering a revolving loan program, or providing for business
training and technical assistance to a microloan recipient. As added by P.L.4-2005, SEC.34.
IC 5-28-19-5 "Program"
Sec. 5. As used in this chapter, "program" refers to the
microenterprise partnership program established under section 6 of
this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-6 Establishment of program; grant limit
Sec. 6. (a) The corporation shall establish the microenterprise
partnership program to provide grants to microloan delivery
organizations.
(b) A grant provided under subsection (a) may not exceed
twenty-five thousand dollars ($25,000).
(c) A microloan delivery organization receiving a grant under this
section must use the grant for the purposes set forth in this chapter. As added by P.L.4-2005, SEC.34. IC 5-28-19-7 Criteria for grants
Sec. 7. To establish the criteria for making a grant to a microloan
delivery organization, the corporation shall consider the following:
(1) The microloan delivery organization's plan for providing
business development services and microloans to
microenterprises.
(2) The scope of services provided by the microloan delivery
organization.
(3) The microloan delivery organization's plan for coordinating
the services and loans provided under this chapter with those
provided by commercial lending institutions.
(4) The geographic representation of all regions of the state,
including both urban and rural communities and neighborhoods.
(5) The microloan delivery organization's emphasis on
supporting female and minority entrepreneurs.
(6) The ability of the microloan delivery organization to provide
business training and technical assistance to microenterprises.
(7) The ability of the microloan delivery organization to
monitor and provide financial oversight of recipients of
microloans.
(8) The sources and sufficiency of the microloan delivery
organization's operating funds. As added by P.L.4-2005, SEC.34.
IC 5-28-19-8 Permitted uses of grants
Sec. 8. A grant received by a microloan delivery organization may
be used for the following purposes:
(1) To satisfy matching fund requirements for federal or private
grants.
(2) To establish a revolving loan fund from which the microloan
delivery organization may make loans to microenterprises.
(3) To establish a guaranty fund from which the microloan
delivery organization may guarantee loans made by commercial
lending institutions to microenterprises.
(4) To pay the operating costs of the microloan delivery
organization. However, not more than ten percent (10%) of a
grant may be used for this purpose. As added by P.L.4-2005, SEC.34.
IC 5-28-19-9 Matching of appropriations
Sec. 9. Money appropriated to the program must be matched by
at least an equal amount of money derived from any of the following
nonstate sources:
(1) Private foundations.
(2) Federal sources.
(3) Local government sources.
(4) Quasi-governmental entities.
(5) Commercial lending institutions.
(6) Any other source whose funds do not include money
appropriated by the general assembly. As added by P.L.4-2005, SEC.34.
IC 5-28-19-10 Disbursal of microloan money
Sec. 10. At least fifty percent (50%) of the microloan money
disbursed by a microloan delivery organization must be disbursed in
microloans that do not exceed ten thousand dollars ($10,000). As added by P.L.4-2005, SEC.34.
IC 5-28-19-11 Standards, procedures, and guidelines
Sec. 11. The corporation may prescribe standards, procedures, and
other guidelines to implement this chapter. As added by P.L.4-2005, SEC.34.
IC 5-28-19-12 Use of microenterprise partnership program fund and other funds
Sec. 12. The corporation may use money in the microenterprise
partnership program fund established by IC 5-28-18-7 or any other
money available to the corporation to carry out this chapter. As added by P.L.4-2005, SEC.34. Amended by P.L.1-2006, SEC.130.
IC 5-28-19-13 Reporting requirements
Sec. 13. Before August 1 of each year, the corporation shall
submit to the budget committee a supplemental report on a
longitudinal study:
(1) describing the economic development outcomes resulting
from microloans made under this chapter; and
(2) evaluating the effectiveness of the microloan delivery
organizations and the microloans made under this chapter in:
(A) expanding employment and self-employment
opportunities in Indiana; and
(B) increasing the incomes of persons employed by
microenterprises. As added by P.L.4-2005, SEC.34.
