R.I. Gen. Laws § 42-64.25-6

Current through 2024 Public Law 457
Section 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.

R.I. Gen. Laws § 42-64.25-6

Amended by 2018 Pub. Laws, ch. 47,§ 12-15, eff. 6/22/2018.
Added by 2015 Pub. Laws, ch. 141,§ 19-8, eff. 6/30/2015.