21 CRR-NY 4240.8NY-CRR
21 CRR-NY 4240.8
21 CRR-NY 4240.8
4240.8 Franchise loans.
The corporation may provide franchise loans to small businesses and certified minority and/or women-owned business enterprises that seek to acquire franchises of nationally-recognized corporations, subject to sections 4240.4 and 4240.10 of this Part and the following:
(a) disbursements by the corporation of such loans shall be conditioned on obtaining such franchise(s); and
(b) the amount of any such loan shall not be less than $50,000 and generally shall not exceed $300,000 or an amount equal to twice the amount of cash equity in the project, whichever is less.
21 CRR-NY 4240.8
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.