New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4251 - Capital Access Program
Section 4251.1 - Purpose
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4251.1
Current through Register Vol. 45, No. 52, December 27, 2023
The purpose of this rule is to facilitate the administration of the Capital Access Program (the program) authorized by section 16-k of the New York State Urban Development Corporation Act (the act). Pursuant to the act, the corporation (hereinafter defined) may, within available appropriations, assist small businesses, that otherwise find it difficult to obtain regular or sufficient bank financing, through the funding of loan loss reserves for loans made to such small businesses by participating financial institutions.
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