Sec. 14. (a) The state board of finance and the corporation shall determine and ascribe to an applicant for a loan a priority rating. The rating must be based primarily on the need of the qualified entity for a proposed program or on the need of the small business investment company or minority enterprise small business investment company for the loan as the need is related to the needs of other applicants for loans.
(b) The qualified entities, small business investment companies, or minority enterprise small business investment companies with the highest priority rating shall be given first consideration when loans are made under this chapter. The loans shall be made in descending order as shown by the priority ratings.
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 9. Industrial Development Program and Fund
5-28-9-3. "Industrial Development Program"
5-28-9-4. "Information and High Technology Infrastructure"
5-28-9-5. "Minority Enterprise Small Business Investment Company"
5-28-9-7. "Small Business Investment Company"
5-28-9-9. Fund Established; Purpose; Administration
5-28-9-10. Loans for Approved Programs; Amount Restriction; Limitations
5-28-9-11. Industrial Development Programs
5-28-9-12. Loans to Qualified Entities; Conditions
5-28-9-13. Participation in Program or Project by Entity; Share of Cost
5-28-9-14. Priority Rating of Applicant for Loan
5-28-9-15. Loans; Restrictions; Ordinance Requirement
5-28-9-16. Revenue to Pay Annual Loan Installment and Interest; Levy of Tax
5-28-9-17. Failure to Repay Money Lent; Action to Recover
5-28-9-20. Loan With Simultaneous or Successive Sale of Note or Other Obligation; Legal Investments