Pennsylvania Statutes Title 72 Pa.C.S.A. Taxation and Fiscal Affairs § 3116. Microenterprise loans

(1) An administrative entity may issue a loan to a microenterprise that operates on property owned by the administrative entity within the program.

(2) An administrative entity may partner with a private entity that issues microloans for the purpose of providing a loan under paragraph (1).

(3) If a loan payment becomes delinquent, the administrative entity may offer a hardship agreement to the microenterprise to restructure the payment process.

(1) For the purpose of reducing the financial risk involved in issuing a loan under subsection (a)(1) and providing loan applicants with the skills necessary to succeed, a loan applicant must complete business courses and workshops on operating a business, creating market strategy and customer interaction to be eligible to receive a loan.

(2) If the loan applicant is a worker cooperative corporation, all owners of the worker cooperative corporation must complete the business courses and workshops under paragraph (1).

(1) Upon request by an administrative entity, the department shall assist the administrative entity in identifying organizations that can provide the business training required under subsection (b) to loan applicants.  The administrative entity shall direct loan applicants to the organizations that provide the business training.

(2) The administrative entity may partner with a private entity, including commercial and nonprofits or organizations specializing in training start-up entrepreneurs, for any of the following:

(1) An administrative entity shall impose requirements for eligible applicants, and the requirements shall be readily available to the public.  The requirements shall include provisions that:

(2) (Reserved).