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the New York Laws
2020 New York Laws
STF - State Finance
Article 15 - Excelsior Linked Deposit Act
217 - Linked Loans.
Universal Citation: NY State Fin L § 217 (2020)
§ 217. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible businesses in connection with eligible projects. A linked loan shall be limited to a maximum amount of two million dollars. An eligible business may receive more than one linked loan. During the life of the linked loan program, the total amount of money that a business can borrow from the linked program is two million dollars. The credit decision for making a linked loan shall be made solely by the lender. Notwithstanding the length of the term of a linked loan, the linked deposit relating to the linked loan shall be for a period of not more than four years.
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