Delaware Laws - Title 29 State Government
CHAPTER 50. STATE ECONOMIC DEVELOPMENT
Subchapter III-A. The Small Business Revolving Loan and Credit Enhancement Fund

Sec. 5047. Creation of the Fund. (12321)(1-click HTML)

(a) A special fund to be known as the "Small Business Revolving Loan and Credit Enhancement Fund," hereinafter referred to as the "Fund" shall be created and administered by The Delaware Economic Development Authority, hereinafter referred to as the "Authority." (12322)

(b) The Fund shall be invested by the State Treasurer in securities consistent with the policies established by the Cash Management Policy Board. All interest on the Fund's moneys and any repayment of loans shall be deposited in the Fund. (12323)

(c) Loans made by the Authority to small businesses under the Fund shall be loaned at a below-market rate. (12324)

(67 Del. Laws, c. 46, Sec. 26(a).) (12325)

  

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