The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 — 15-5-106, 15-5-201 — 15-5-211, 15-5-213, and 15-5-301 — 15-5-316, is empowered to approve or deny by majority vote of the Board of Directors of the Arkansas Development Finance Authority the applications for direct loans and guaranties of obligations and qualified investments, except that, at the discretion of the board, approvals for loans up to any limit the board shall specify may be approved by the Small Business Loan Committee. The committee shall report all such actions taken at the next meeting of the board.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development Of Economic And Natural Resources Generally
Chapter 5 - Arkansas Development Finance Authority
Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989
§ 15-5-702. Legislative findings and declaration of public necessity
§ 15-5-705. Funding or guarantee of loans — Conditions
§ 15-5-706. Evaluation of small-business persons
§ 15-5-707. Small Business Revolving Loan Fund — Investment of funds
§ 15-5-708. Applications — Supporting documents
§ 15-5-709. Applications — Review — Confidentiality and public disclosure — Notice
§ 15-5-710. Liability of authority's members and staff
§ 15-5-712. Power to make grants and loans
§ 15-5-713. Funding of qualified investments
§ 15-5-714. Entrepreneur Fee Waiver Pilot Program — Definition