Louisiana Administrative Code
Title 48 - PUBLIC HEALTH-GENERAL
Part VII - Alcohol and Drug Abuse Services
Chapter 7 - Group Homes for Recovering Substance Abusers
Section VII-713 - Bridge Loans
Universal Citation: LA Admin Code VII-713
Current through Register Vol. 50, No. 9, September 20, 2024
A. Bridge loans are restricted, short-term loans to private, non-profit chartered organizations in an amount equal to anticipated or quoted security deposits and first month rent. Bridge loans are for the purpose of having funds available at the time of consummating a lease arrangement for a recovery home under sponsorship of that organization.
B. Restrictions on Bridge Loans
1. Private, chartered,
non-profit corporations which have been in existence three months or more prior
of the date of application for the loan.
2. Ninety-day payback
3. Maximum amount limited to $2,000 for each
loan applied for, to cover security, rental and other deposits, lease costs,
and for basis furnishings required for occupancy
4. Non-interest bearing
5. Application for loan must state "Bridge
Loan"
AUTHORITY NOTE: Promulgated in accordance with R.S. 28:771 and R.S. 36:258(E)(3).
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
