Browse Arkansas Code titles and sections
15-5-712. Power to make grants and loans.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-712. Power to make grants and loans.
The Arkansas Development Finance Authority may make grants, direct loans, or loan guaranties to:
(1) New or existing:
(A) Title IX revolving loan funds;
(B) Small business investment companies; and
(C) Specialized small business investment companies;
(2) The Division of Minority and Women-owned Business Enterprise of the Arkansas Economic Development Commission;
(3) A certified community development financial institution under the Riegle Community Development and Regulatory Improvement Act of 1994, Pub. L. No. 103-325; and
(4) An entrepreneur as described in the Entrepreneur Fee Waiver Pilot Program under § 15-5-714.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-712
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:15-5-712
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4b1e3d3f31a6c19e93020340fff5083c0ee15a9349e69148115fda21c5bfa867
Source location: content.xml paragraph 8575
Stored source content
15-5-712. Power to make grants and loans.
The Arkansas Development Finance Authority may make grants, direct loans, or loan guaranties to:
(1) New or existing:
(A) Title IX revolving loan funds;
(B) Small business investment companies; and
(C) Specialized small business investment companies;
(2) The Division of Minority and Women-owned Business Enterprise of the Arkansas Economic Development Commission;
(3) A certified community development financial institution under the Riegle Community Development and Regulatory Improvement Act of 1994, Pub. L. No. 103-325; and
(4) An entrepreneur as described in the Entrepreneur Fee Waiver Pilot Program under § 15-5-714.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-714. Entrepreneur Fee Waiver Pilot Program — Definition.
(a) There is created a program to be known as the “Entrepreneur Fee Waiver Pilot Program”.
(b) The program shall be developed, implemented, and administered by the Arkansas Development Finance Authority.
(c) The purpose of the program is to encourage and assist entrepreneurs by providing a waiver of state filing fees, state permit fees, or state licensing fees associated with the formation of a small business in this state.
(d) As used in this section, “entrepreneur” means an individual starting a small business and who meets the eligibility criteria established by the authority for the program.
(e) The authority shall promulgate rules in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., to establish criteria for the review and approval of applications for the program.
(f) A entrepreneur shall apply to the authority, using the form prescribed by the authority, before the formation of the small business for which the entrepreneur seeks waiver of the state filing fees, state permit fees, or state licensing fees.
(g) Any waivers or vouchers under this section shall be provided in the manner determined by the authority.
(h) The total amount waived by the authority under this section shall not exceed five hundred thousand dollars ($500,000) per fiscal year.
(i) The Secretary of State shall provide notice of the program to an entrepreneur filing for the formation of a small business in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-714
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 15-5-714. This identifies an authority to review, not proof of applicability.