New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4230 - Minority And Women-owned Business Development And Lending Program
Section 4230.9 - Franchise loans

Current through Register Vol. 45, No. 52, December 27, 2023

The corporation may provide franchise loans to certified minority and/or women-owned business enterprises that seek to acquire and expand franchises of nationally recognized corporations, subject to sections 4230.4, 4230.13 and 4230.14 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.

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