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5-28-29-9. "Lender"

IN Code § 5-28-29-9 (2019) (N/A)
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Sec. 9. As used in this chapter, "lender" means:

(1) a financial institution (as defined in IC 5-13-4-10); or

(2) alternatively, during the period beginning after June 30, 2018, and ending before July 1, 2021:

(A) a credit corporation (as defined in IC 23-6-4-1);

(B) an entity that:

(i) extends more than seventy-five percent (75%) of all eligible loans made in the previous twelve (12) month period to minority businesses (as defined in IC 5-28-20-4); and

(ii) is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation; or

(C) a qualified "eligible intermediary" participating in the federal Small Business Administration Microloan Program pursuant to 15 U.S.C. 636(m), as amended from time to time, and that is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation;

that has entered into an agreement with the corporation to participate in the program.

As added by P.L.162-2007, SEC.24. Amended by P.L.146-2018, SEC.17; P.L.10-2019, SEC.34.

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