La. Admin. Code tit. 19 § VII-7501
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-7501 - PurposeA. The Louisiana Economic Development Corporation (LEDC) wishes to stimulate the flow of private capital, long-term loans, and other financial assistance for the sound financing of the development, expansion, and retention of small business concerns in Louisiana as a means of providing high levels of employment, income growth, and expanded economic opportunities, especially to disadvantaged persons and within distressed and rural areas.B. The corporation will consider sound loans so long as resources permit. The board of the corporation recognizes that guaranteeing, participating, or lending money carries certain risks and is willing to undertake reasonable exposure.La. Admin. Code tit. 19, § VII-7501
Promulgated by the Department of Economic Development, Economic Development Corporation, LR 23:555 (May 1997).AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2312(C).