Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 5 - OFFICE OF THE GOVERNOR, ECONOMIC DEVELOPMENT AND TOURISM OFFICE
Chapter 187 - CAPITAL ACCESS PROGRAM
Section 187.12 - Limitations on the Office's Deposit to Reserve
Universal Citation: 10 TX Admin Code ยง 187.12
Current through Reg. 49, No. 12; March 22, 2024
Deposits made by the Office into a reserve account to be placed at a participating financial institution shall be limited by the following:
(1) The maximum amount the Office may deposit into a reserve account for each capital access loan made under the program is the lesser of $35,000 or an amount equal to:
(A) 8.0% of the loan amount if:
(i) the eligible applicant is located or
financing a project, activity, or enterprise in an area designated as an
enterprise zone; or
(ii) the
eligible applicant is a small or medium size business or a non-profit
organization that operates or proposes to operate a day-care center or group
day-care home, as those terms are defined by Human Resources Code, §
RSA
42.002.
(B) 6.0% of the loan for any other eligible
applicant.
(2) The amount deposited by the Office into a participating financial institution's reserve account for any single loan recipient may not exceed $150,000 during a three-year period.
Disclaimer: These regulations may not be the most recent version. Texas 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.
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