Sec. 14. (a) A loan under this chapter must be secured by liens on collateral at the highest level of priority that can accommodate the borrower's ability to raise sufficient debt and equity capital.
(b) A financial institution holding an obligation that is guaranteed under this chapter must adequately secure the obligation.
As added by P.L.4-2005, SEC.34.
Structure Indiana Code
Title 5. State and Local Administration
Article 28. Indiana Economic Development Corporation
Chapter 21. Small Business Incubator Program
5-28-21-1. "Economically Disadvantaged Area"
5-28-21-6. Establishment of Fund; Purpose; Repayments of Loans; Nonreversion
5-28-21-7. Application for Grant, Loan, or Loan Guarantee; Requirements
5-28-21-8. Award of Grants, Loans, and Loan Guarantees; Criteria
5-28-21-9. Use of Grants and Loans
5-28-21-10. Grant Amount Limits
5-28-21-12. Loan or Loan Guarantee Amount Limits
5-28-21-13. Combined Grant and Loan or Loan Guarantee Amount Limits
5-28-21-15. Leased Facilities; Conditions
5-28-21-16. Deferral of Principal and Interest
5-28-21-17. Loan Interest Rate; Determination
5-28-21-18. Loan or Loan Guarantee Time Limits
5-28-21-19. Duties of Sponsors or Assistance Recipients