§ 2312. Limitations. No loans shall be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.
(2) Refinance any portion of the total cost of a capital development project, pollution prevention infrastructure or other existing loans or debt.
(3) Finance a capital development project or pollution prevention infrastructure located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or directly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.
Section: Previous 2301 2302 2303 2304 2305 2306 2307 2308 2309 2310 2310.1 2311 2312Last modified: October 8, 2016