81-12,102 Grants of appropriated funds to microloan delivery organization; qualifications. - Nebraska Statutes

81-12,102. Grants of appropriated funds to microloan delivery organization; qualifications.The granting of any appropriated funds to a microloan delivery organization must meet the following qualifications:(1) Granted funds must be matched by nonstate funds equivalent in money or in-kind contributions or a combination of both equal to twenty-five percent of the grant funds requested. Such matching funds can come from any nonstate source, including private foundations, federal or local government sources, quasi-governmental entities or commercial lending institutions, or any other funds whose source does not include funds appropriated from the Legislature; and(2) At least fifty percent of microloan funds must be disbursed by the microloan delivery organizations in microloans which do not exceed ten thousand dollars. SourceLaws 1997, LB 327, § 8; Laws 2000, LB 1348, § 15.