{"data":{"id":"us-ky/krs-154.12-330","jurisdiction":"us-ky","citation":"KRS 154.12-330","heading":"Authorization to develop and fund small business loan program --","body":"$100,000 limit -- Requirements.\n(1) The Kentucky Economic Development Finance Authority is hereby authorized to\ndevelop and fund a small business loan program to assist new or existin g small\nbusinesses operating in the Commonwealth. The authority may lend up to one\nhundred thousand dollars ($100,000) to any eligible small business for acquisition,\nconstruction, expansion, working capital, or any other business expense the\nauthority deems reasonable to approve.\n(2) The authority shall determine the terms, conditions, and requirements for loans\nissued under this section, including collateral requirements when deemed\nreasonable and appropriate. Recognizing that small businesses, while esse ntial for\nthe economic vitality of the Commonwealth, may have difficulty obtaining\nconventional loans, the authority may provide terms that are more lenient, high-risk,\nless secure, or otherwise less stringent than industry standards.\n(3) To be eligible fo r a loan under this section, a small business shall be engaged in\nmanufacturing, agribusiness, or service or technology, shall not be engaged\nprimarily in retail, and shall commit to creating and maintaining at least one (1) new\nfull-time job above the number existing on the date of application.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2661","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:52Z","sha256":"73418f98d267640fe050d71ca8e1b3b4a667ed8bf416df3a033ef9128a966ce8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.12-325","next":"us-ky/krs-154.12-340"},"notice":"GroundRules: Original legal text. Not legal advice."}