§ 15-3-117 - Use of revenues -- Assistance to minority businesses. - Arkansas Statutes

15-3-117. Use of revenues -- Assistance to minority businesses.

(a) The Arkansas Science and Technology Authority is authorized to use any available revenues for the accomplishment of the purposes set forth in this subchapter.

(b) In carrying out the purposes set forth in this subchapter, the authority will assist minority businesses in obtaining loans or other means of financial assistance.

(c) The terms and conditions of such loans or financial assistance, including the charges for interest and other services, will be consistent with the provisions of this subchapter.

(d) In order to comply with this requirement, efforts will be made to solicit for review and analysis proposed minority business ventures.

(e) It is further provided that basic loan underwriting standards will not be waived to inconsistently favor minority persons or businesses, or both, from the intent of the authority's lending practices.