N.Y. Comp. Codes R. & Regs. tit. 21 § 4240.8

Current through Register Vol. 46, No. 25, June 18, 2024

Section 4240.8 - Franchise loans

The corporation may provide franchise loans to small businesses and certified minority and/or women-owned business enterprises that seek to acquire franchises of nationally-recognized corporations, subject to sections 4240.4 and 4240.10 of this Part and the following:

(a) disbursements by the corporation of such loans shall be conditioned on obtaining such franchise(s); and

(b) the amount of any such loan shall not be less than $50,000 and generally shall not exceed $300,000 or an amount equal to twice the amount of cash equity in the project, whichever is less.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4240.8