Tex. Agric. Code § 44.0045

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 44.0045 - Microenterprise Support Program Loans

(a) The board shall administer a loan program supporting established and proposed microenterprises in rural areas by providing loans to expand, modernize, or otherwise improve established microenterprises and to begin operation of proposed microenterprises.

(b) An applicant applying on behalf of a proposed microenterprise may receive a loan of up to $25,000 to begin operation of the microenterprise.

(c) An applicant applying on behalf of an established microenterprise may receive a loan of up to $50,000 to expand, modernize, or otherwise improve an established operation.

(d) The board may reserve a portion of the total fund for use in cooperative loan programs established with the participation of other public or private lenders.

Tex. Agric. Code § 44.0045

Amended by Acts 1999, 76th Leg., ch. 1459, Sec. 3, eff. 6/19/1999.

Amended by Acts 1995, 74th Leg., ch. 419, Sec. 5.04, eff. 9/1/1995

Added by Acts 1989, 71st Leg., ch. 1247, Sec. 6, eff. 9/1/1989.