Establishes Urban Enterprise Zone Microloan Program in EDA to help certain businesses in Urban Enterprise Zones and UEZ-Impacted districts; appropriates $5 million.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes the Urban Enterprise Zone Microloan Program within the Economic Development Authority (EDA) to provide low-interest loans to businesses located in urban enterprise zones and UEZ-impacted districts. The program aims to support these businesses with operational or capital expenses, requiring applicants to demonstrate viability and employment plans. The bill also appropriates $5 million to fund the program’s revolving loan fund.
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Sponsors
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2 on record
Primary sponsors
Michael Testa
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