Section 5-453 - Purpose.

§ 5-453. Purpose.
 

(a)  In general.- The purpose of the Program is to stimulate economic and employment growth in rural areas of the State with high unemployment. 

(b)  Assistance to eligible businesses.-  

(1) The Program shall assist eligible businesses to obtain a loan at below market rates. 

(2) An eligible business may use a Program loan to acquire land, buildings, and equipment. 

(3) An acquisition made by an eligible business with a Program loan shall be used to create or retain employment opportunities in a rural area. 
 

[An. Code 1957, art. 83A, § 5-927(b)(2)-(5); 2008, ch. 306, § 2.]