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This entry was published on 2014-09-22
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SECTION 217
Linked loans
State Finance (STF) CHAPTER 56, ARTICLE 15
§ 217. Linked loans. Linked loans shall be made by lenders pursuant to
the program only to eligible businesses in connection with eligible
projects. A linked loan shall be limited to a maximum amount of two
million dollars. An eligible business may receive more than one linked
loan. During the life of the linked loan program, the total amount of
money that a business can borrow from the linked program is two million
dollars. The credit decision for making a linked loan shall be made
solely by the lender. Notwithstanding the length of the term of a linked
loan, the linked deposit relating to the linked loan shall be for a
period of not more than four years.