Any loans by the corporation to a small business investment company or minority enterprise small business investment company, shall be conditioned on the following:
A loan to a small business investment company or minority enterprise small business investment company shall not exceed the amount of its outstanding portfolio investments or the amount of its private paid-in capital and paid-in surplus, whichever is less.
The small business investment company or minority enterprise small business investment company must agree that the entire loan will be invested in firms located in this state.
The repayment period for any such loan shall not exceed fifteen (15) years but such loans need not be amortized.
Such other conditions as may be prescribed by the board of directors of the corporation.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 10 - Small Business Assistance
Article 1 - Mississippi Business Finance Corporation
§ 57-10-1. Declaration of public policy and legislative intent
§ 57-10-9. General purposes of corporation
§ 57-10-17. General powers and duties of board of directors
§ 57-10-19. Purchase of debentures and common stock of small business investment companies
§ 57-10-21. Conditions of loans to small business investment companies
§ 57-10-23. Annual fee of small business investment companies
§ 57-10-25. Funding of corporation; investments of corporation
§ 57-10-29. Disposition of funds received by corporation; annual audit
§ 57-10-31. Liabilities of officers, directors, agents, and employees of corporation
§ 57-10-35. Cooperation of state agencies and educational institutions