To stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to:
(1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the United States Small Business Administration; and
(2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the United States Small Business Administration, thereby making available to such small business investment companies additional loan funds.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 4 - Development Of Business And Industry Generally
Subchapter 4 - Jobs Creation by Stimulating Small Business Growth Act of 1985
§ 15-4-402. Legislative findings and purpose
§ 15-4-404. Promulgation of rules generally
§ 15-4-405. Companies qualified for loan application and sale — Apportioning available funds
§ 15-4-406. Authority to issue revenue bonds — Loan funds
§ 15-4-407. Limits on bond issuance and loan purchases
§ 15-4-408. Prerequisites to issuance
§ 15-4-409. Authorizing resolution and trust indenture
§ 15-4-410. Issuance and redemption procedures
§ 15-4-414. No personal liability