Ga. Comp. R. & Regs. R. 110-19-1-.03 - Fund Availability
(1) Loan funds available to the Department
for this program will in turn be made available for application throughout the
fiscal year and will be reviewed based upon the criteria provided in rule
section 110-19-1-.05.
(2) The Department's concentration of assets
(loans) in any one community is limited to 15% of the Downtown Development
Revolving Loan Fund's total assets. However, under certain circumstances the
Commissioner of the Department may authorize a waiver of this policy; provided
that the concentration of assets in the affected community does not exceed 20%
of the Downtown Development Revolving Loan Fund's total assets. The Department
also reserves the right to limit the amount of funding for certain business
types.
(3) In the event of a
natural disaster or other extraordinary event, the Commissioner of the
Department may authorize a waiver of the concentration of assets
policy.
Notes
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