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Section 42-64.25-6 Micro-loan allocation.

RI Gen L § 42-64.25-6 (2019) (N/A)
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§ 42-64.25-6. Micro-loan allocation. Notwithstanding anything to the contrary in this chapter, not less than ten percent (10%) and not more than twenty-five percent (25%) of program funds will be allocated to "micro loans" with a principal amount between two thousand dollars ($2,000) and twenty-five thousand dollars ($25,000). Micro loans will be administered by lending organizations, which will be selected by the commerce corporation on a competitive basis and shall have experience in providing technical and financial assistance to microenterprises.

History of Section. (P.L. 2015, ch. 141, art. 19, § 8; P.L. 2018, ch. 47, art. 12, § 15.)

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Section 42-64.25-5 Program loan structures.
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Section 42-64.25-7 Lending organization reports.