Arkansas Code Title 15, Subtitle 1, Chapter 5, Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989

• § 15-5-701 - Title.
  This subchapter may be referred to and cited as the "Arkansas Development Finance Authority Small Business Act of 1989".
• § 15-5-702 - Legislative Findings and Declaration of Public Necessity.
  (a) The General Assembly finds: (1) That there exists severe economic instability in traditional national and international markets for goods and services produced by...
• § 15-5-703 - Definitions.
  As used in this subchapter: (1) "Agencies of the United States Government" means federal agencies empowered to make direct loans and provide guaranties backed...
• § 15-5-704 - Duty of Authority.
  The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 --...
• § 15-5-705 - Funding or Guarantee of Loans -- Conditions.
  (a) Loans may be guaranteed when: (1) The Arkansas Development Finance Authority deems the utilization of a loan guaranty in the best interest of...
• § 15-5-706 - Evaluation of Small-Business Persons.
  (a) The Arkansas Development Finance Authority shall promulgate standards and regulations for the evaluation of the financial condition and business history of the small-business...
• § 15-5-707 - Small Business Revolving Loan Fund -- Investment of Funds.
  (a) (1) The Arkansas Development Finance Authority is authorized to establish a Bond Guaranty Reserve Account, sometimes referred to in this subchapter as the...
• § 15-5-708 - Applications -- Supporting Documents.
  Each small-business person requesting a loan or guaranty or qualified investment under this subchapter shall submit to the Arkansas Development Finance Authority an application,...
• § 15-5-709 - Applications -- Review -- Confidentiality and Public Disclosure -- Notice.
  (a) All applications filed with the Arkansas Development Finance Authority under the provisions of this subchapter shall first be reviewed by the appropriate designated...
• § 15-5-710 - Liability of Authority's Members and Staff.
  No provision of §§ 15-5-708 and 15-5-709 shall be interpreted to create any private right against any member of the Arkansas Development Finance Authority...
• § 15-5-711 - Grants to Fund.
  The Arkansas Development Finance Authority may accept grants to its Small Business Revolving Loan Fund and its Direct Fund from any source.
• § 15-5-712 - Power to Make Grants and Loans.
  The Arkansas Development Finance Authority may make grants, direct loans, or loan guaranties to: (1) New or existing: (A) Title IX revolving loan funds;...
• § 15-5-713 - Funding of Qualified Investments.
  (a) The Arkansas Development Finance Authority may approve the use of funds for qualified investments upon such terms and conditions and for such periods...

Last modified: November 15, 2016