Section 870-RICR-30-00-8.11 - CertificationA. After Board approval of an Application in accordance with § 8.10 of this Part, the Corporation shall issue a Certification to the Applicant certifying that the proposed Equity Investment or Debt Investment qualifies as a Capital Investment under the Act, subject to the following limitation:1. The Corporation shall certify no more than sixty-five million dollars ($65,000,000) in Capital Investment under the Act and no more than twenty million dollars ($20,000,000) of Capital Investment may be allocated to any individual Small Business Development Fund.B. The Corporation shall certify Capital Investments in the order that the Applications are received by the Corporation.C. Applications received on the same day shall be deemed to have been received simultaneously.D. For Applications that are complete and received on the same day, the Corporation shall certify the Applications in proportionate percentages based upon the ratio of the amount of Capital Investments requested in an Application to the total amount of Capital Investments requested in all Applications.870 R.I. Code R. 870-RICR-30-00-8.11
Adopted effective 9/27/2019
Amended effective 3/24/2020