§ 217. Linked loans. Linked loans shall be made by lenders pursuant to\nthe program only to eligible businesses in connection with eligible\nprojects. A linked loan shall be limited to a maximum amount of four\nmillion dollars. An eligible business may receive more than one linked\nloan. During the life of the linked loan program, the total amount of\nmoney that a business can borrow from the linked program is six million\ndollars. The credit decision for making a linked loan shall be made\nsolely by the lender. Notwithstanding the length of the term of a linked\nloan, the linked deposit relating to the linked loan shall be for a\nperiod of not more than four years.\n
N.Y. State Fin. Law § 217
Linked loans
2023-05-12
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.