§ 15-4-406 - Authority to issue revenue bonds -- Loan funds. - Arkansas Statutes

15-4-406. Authority to issue revenue bonds -- Loan funds.

To stimulate the flow of private funds for capital improvements to small business concerns, the Arkansas Economic Development Council is authorized to:

(1) Issue revenue bonds to obtain funds to be administered through the Division of Minority Business Enterprise of the Arkansas Economic Development Commission to make investment loans to small business concerns insured by the Small Business Administration of the federal government; and

(2) Provide funds whereby the division may purchase from small business investment companies small business enterprise loans for capital improvements and expansions guaranteed by the Small Business Administration, thereby making available to such small business investment companies additional loan funds.