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Indiana Code Title 5. State and Local Administration § 5-28-29-9

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 9. As used in this chapter, “lender” means:

(1) a financial institution (as defined in IC 5-13-4-10);  or

(2) beginning after June 30, 2018:

(A) a credit corporation (as defined in IC 23-6-4-1);

(B) an entity that:

(i) extends more than seventy-five percent (75%) of all eligible loans made in the previous twelve (12) month period to minority businesses (as defined in IC 5-28-20-4);  and

(ii) is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation;

(C) a qualified “eligible intermediary” participating in the federal Small Business Administration Microloan Program pursuant to 15 U.S.C. 636(m), as amended from time to time, and that is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation;  or

(D) a non-credit union community development financial institution that is approved by the corporation as a lender in accordance with the policy guidelines as adopted by the board;

that has entered into an agreement with the corporation to participate in the program.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-28-29-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-28-29-9/

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