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Oregon Revised Statutes Title 26A. Economic Development § 285B.758

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Entrepreneurial Development Loan Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes:

(a) Administrative costs of the department incurred in processing loan applications, investigating the eligibility of loan applicants and servicing outstanding loans;

(b) Paying for loan origination and loan servicing by contractors under ORS 285B.740 to 285B.758; and

(c) Payment of loans to applicants under ORS 285B.740 to 285B.758.

(2) The Oregon Entrepreneurial Development Loan Fund shall consist of:

(a) Moneys appropriated to the fund by the Legislative Assembly;

(b) Interest earned on moneys in the fund; and

(c) Moneys received as repayment of principal and interest on loans made from the fund under ORS 285B.740 to 285B.758.

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Cite this article: FindLaw.com - Oregon Revised Statutes Title 26A. Economic Development § 285B.758 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-26a-economic-development/or-rev-st-sect-285b-758/

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