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A loan may not be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.
(2) Refinance any portion of the total cost of an industrial development project, industrial park or multiple-tenancy building project or other existing loans or debt.
(3) Finance an industrial development project, industrial park or multiple-tenancy building project located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or indirectly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 12 Pa.C.S.A. Commerce and Trade § 3010. Limitations - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-12-pacsa-commerce-and-trade/pa-csa-sect-12-3010.html
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