§ 5-453. Purpose

Latest version.

   (a) In general. -- The purpose of the Program is to stimulate economic and employment growth in rural areas of the State with high unemployment.

(b) Assistance to eligible businesses. --

   (1) The Program shall assist eligible businesses to obtain a loan at below market rates.

   (2) An eligible business may use a Program loan to acquire land, buildings, and equipment.

   (3) An acquisition made by an eligible business with a Program loan shall be used to create or retain employment opportunities in a rural area.

HISTORY: An. Code 1957, art. 83A, § 5-927(b)(2)-(5); 2008, ch. 306, § 2.

                    
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