Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 400.2507. Authority loans

The authority may make loans to eligible institutions from moneys appropriated to the program on such terms and conditions as the authority may determine. Loans shall be made by the authority pursuant to the act of August 23, 1967 (P.L. 251, No. 102),  1 known as the Economic Development Financing Law. Loans shall be made and used in a manner consistent with the requirements of the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325, 108 Stat. 2163) or any successor thereto. Loans to eligible institutions may be made by the authority as the sole lender or in cooperation with participating investors pursuant to agreements entered into in accordance with this chapter. Loan repayments shall be used by the authority to make new loans to eligible institutions.