53-4-255. Revolving loan account. - Montana Statutes

     53-4-255. Revolving loan account. (1) There is an account in the department that is a revolving loan account.
     (2) The department may access temporary assistance for needy families block grant funds upon identification of the immediate need or use of the funds as provided in this section. Any interest that is generated from a loan repayment must be deposited into the revolving loan account and used to sustain the program.
     (3) The funds from the revolving loan account may be used to provide loans, not to exceed $8,000 each, for individuals who are eligible for state programs that are funded by the temporary assistance for needy families block grant. Loans may be made for the purposes of:
     (a) payment for job training expenses;
     (b) payment for home repair work for weatherization and energy conservation;
     (c) payment of short-term bills, excluding fines or bad debt;
     (d) payment for business startup costs or business inventory costs, excluding construction;
     (e) payment for gaps in loan payments for escrow costs, for the period before other loans are made, and for closing costs or costs for participating in other loan programs; or
     (f) providing assistance to applicants seeking to develop secondary sources of outside income.

     History: En. Sec. 1, Ch. 482, L. 2001.