Sec. 4240.7. Business development loans  


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  • The corporation may provide business development loans to small businesses and certified minority and/or women-owned business enterprises for the acquisition or improvement of real property, machinery, equipment or for working capital, subject to sections 4240.4 and 4240.10 of this Part and the following:
    (a) an applicant for a business development loan must have been in the business for which financing is sought or in a related field at least three years prior to the date of its application;
    (b) preference will be given to enterprises involved in manufacturing, distribution or wholesaling; and
    (c) each business development loan provided by the corporation shall not be less than $50,000 and generally shall not exceed $500,000.