Loan programs shall be structured by the commerce corporation that may include, but not be limited to, the following programs: (a) financing programs for companies that require additional capital outside of conventional senior debt or equity financing channels; (b) direct lending of subordinated and mezzanine debt; (c) collateral support in the form of credit enhancement; (d) pledge of cash collateral accounts to lending institutions to enhance collateral coverage of individual loans; and (e) technical assistance to small businesses.
R.I. Gen. Laws § 42-64.25-5
Program loan structures
Known as the Small Business Assistance Program Act
The act spans §§ 42-64.25-1 to 42-64.25-9 (14 sections).
P.L. 2015, ch. 141, art. 19, § 8.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.