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2025 Delaware Code
Title 29 - State Government
Chapter 87A. ECONOMIC DEVELOPMENT
Subchapter V. The Small Business Revolving Loan and Credit Enhancement Fund
§ 8748A. Fund purposes.

Universal Citation:
29 DE Code § 8748A (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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§ 8748A. Fund purposes.

(a) The moneys appropriated to the Fund may be used by the Authority for loans up to 25 percent of the total debt required, but not to exceed $100,000 for working capital and fixed asset purposes.

(b) The moneys appropriated to the Fund may also be used to purchase credit enhancements on behalf of targeted businesses which shall support loans made by and/or through financial institutions to such targeted businesses. Credit enhancements purchased shall not exceed $100,000 and the credit enhancement amount purchased shall be determined by the Authority.

(c) The moneys appropriated to the Fund shall not be used for the following purposes:

(1) Grants;

(2) Restaurants and professional office buildings except in those targeted census tracts, defined in § 2020(1)d. of Title 30;

(3) Projects which do not attract or retain employment opportunities;

(4) Private, nonprofit activities; and

(5) Private or public speculative real estate ventures.

67 Del. Laws, c. 46, § 26(a);  67 Del. Laws, c. 285, § 21(a);  69 Del. Laws, c. 77, § 25(b);  81 Del. Laws, c. 49, § 1; 
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