Sec. 15. A grant, loan, or loan guarantee for an incubator in a facility that is leased may be made only if the applicant intends to buy the facility. A loan or loan guarantee must be secured by a leasehold mortgage.
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