There is a newer version
of
this Section
2016 Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 588n - Credit, Jobs, Capital Investment and Tax Incremental Financing Programs
Section 32-276 - Loans.
Universal Citation: CT Gen Stat § 32-276 (2016)
Funds allocated to each regional corporation pursuant to sections 32-271 to 32-284, inclusive, may be used to provide loans for eligible projects. The interest rate on such loans shall be determined by the regional corporation, but in no event shall the interest rate be less than one-half of the prime interest rate. The term of any loan shall not exceed five years. All loans shall be secured by lien positions on collateral at the highest level of priority that can accommodate the borrower's ability to raise sufficient debt and equity capital for the project.
(P.A. 92-236, S. 17, 48.)
Disclaimer: These codes may not be the most recent version. Connecticut 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.
