§ 6-307. Business Development Program - Financial assistance for project development costs.
(a) In general.- Financial assistance under the Business Development Program shall be on the terms that the Department considers necessary to make the project financially feasible.
(b) Development costs.- Financial assistance under the Business Development Program may be used for:
(1) a part of the development costs of a project; or
(2) the development costs, working capital, or business expenses of a microenterprise project.
(c) Security.- The Department may require that financial assistance under the Business Development Program be secured by a mortgage or other security instrument, which may be subordinate to other security interests.
(d) Modifications.- The Department may modify the interest rate, the time or amount of payment, or any other term of a grant or loan to facilitate the successful completion or operation of a project.
(e) Contracts for services.- The Department may contract for services related to the Business Development Program.
§ 6-307. Business Development Program - Financial assistance for project development costs.
(a) In general.- Financial assistance under the Business Development Program shall be on the terms that the Department considers necessary to make the project financially feasible.
(b) Development costs.- Financial assistance under the Business Development Program may be used for:
(1) a part of the development costs of a project; or
(2) the development costs, working capital, or business expenses of a microenterprise project.
(c) Security.- The Department may require that financial assistance under the Business Development Program be secured by a mortgage or other security instrument, which may be subordinate to other security interests.
(d) Modifications.- The Department may modify the interest rate, the time or amount of payment, or any other term of a grant or loan to facilitate the successful completion or operation of a project.
(e) Contracts for services.- The Department may contract for services related to the Business Development Program.
§ 6-307. Business Development Program - Financial assistance for project development costs.
(a) In general.- Financial assistance under the Business Development Program shall be on the terms that the Department considers necessary to make the project financially feasible.
(b) Development costs.- Financial assistance under the Business Development Program may be used for:
(1) a part of the development costs of a project; or
(2) the development costs, working capital, or business expenses of a microenterprise project.
(c) Security.- The Department may require that financial assistance under the Business Development Program be secured by a mortgage or other security instrument, which may be subordinate to other security interests.
(d) Modifications.- The Department may modify the interest rate, the time or amount of payment, or any other term of a grant or loan to facilitate the successful completion or operation of a project.
(e) Contracts for services.- The Department may contract for services related to the Business Development Program.
