{"data":{"id":"us-mi/mich.-comp.-laws-125.2035","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 125.2035","heading":"Loans; use; recipients; terms and conditions.","body":"Sec. 35.\n\nLoans made from the private enterprise assistance account may be used for any purpose consistent with the purposes and objectives of the fund and this chapter including, but not limited to, the acquisition, improvement, or rehabilitation of land and buildings; the acquisition of machinery, equipment, or services; working capital; or for any other purpose reasonably related to an economic development project.\n\nLoans made from the private enterprise assistance account may be made to any person or entity, public or private, organized for profit or not for profit, consistent with the provisions of sections 33 and 34 and other applicable provisions of law.\n\nLoans from the private enterprise assistance account may be made on such terms and conditions as the fund shall, in its sole discretion, determine to be reasonable, appropriate, and consistent with the purposes and objectives of the fund and this act, which may include, but not be limited to, the pledging of adequate security.","path":["MI Code","Chapter 125","Act Act-270-of-1984"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-125-2035","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"d6e859e255b511d6928081d0660434ef9b314c7a66199c32f8d5a1d04469f5e8","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-125.2034","next":"us-mi/mich.-comp.-laws-125.2036"},"notice":"GroundRules: Original legal text. Not legal advice."}