Sec.32-9q-3. Economic development loans

Latest version.

(a) The department may make loans to any non-profit state development corporation or local development corporation for any economic development purpose determined to be worthwhile by the commissioner.
(b) The aggregate of such loans shall not exceed five hundred thousand dollars.
(c) such loans may be made for any developmental purpose, including but not limited to working capital, start-up and fixed assets.

(Effective August 5, 1980)

                    
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