§ 42-64.25-2. Statement of intent.
The general assembly hereby finds and declares that small businesses are the economic backbone of the state and the source of a majority of new jobs. The general assembly further finds that too many such businesses often have difficulty obtaining capital from traditional banking organizations to start up, improve or expand operations. Providing greater access to capital would enable the formation and expansion of small businesses across the state and provide job opportunities to the state’s citizens. The purpose of this act is to assist small businesses that encounter difficulty in obtaining adequate credit or adequate terms for such credit. Among the small businesses that this act aims to assist are minority business enterprises and women-owned business enterprises.
History of Section.P.L. 2015, ch. 141, art. 19, § 8.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64.25 - Small Business Assistance Program
Section 42-64.25-1. - Short title.
Section 42-64.25-2. - Statement of intent.
Section 42-64.25-3. - Establishment of small business capital access fund.
Section 42-64.25-4. - Qualifications of lending organizations.
Section 42-64.25-5. - Program loan structures.
Section 42-64.25-6. - Micro-loan allocation.
Section 42-64.25-7. - Lending organization reports.
Section 42-64.25-9. - Termination.
Section 42-64.25-10. - Discretion.
Section 42-64.25-11. - Limitations.
Section 42-64.25-12. - Reporting requirements.