Indiana Code 5-28-29-9. “Lender”
(1) a financial institution (as defined in IC 5-13-4-10); or
Terms Used In Indiana Code 5-28-29-9
- agreement: means an agreement between a lender and the corporation under which a lender may participate in the program. See Indiana Code 5-28-29-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- lender: means :
Indiana Code 5-28-29-9
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
- program: refers to the capital access program created by this chapter. See Indiana Code 5-28-29-11
(A) a credit corporation (as defined in IC 23-6-4-1);
(B) an entity that:
(i) extends more than seventy-five percent (75%) of all eligible loans made in the previous twelve (12) month period to minority businesses (as defined in IC 5-28-20-4); and
(ii) is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation;
(C) a qualified “eligible intermediary” participating in the federal Small Business Administration Microloan Program pursuant to 15 U.S.C. § 636(m), as amended from time to time, and that is approved by the corporation as a lender in accordance with the policy guidelines adopted by the board of the corporation; or
(D) a non-credit union community development financial institution that is approved by the corporation as a lender in accordance with the policy guidelines as adopted by the board;
that has entered into an agreement with the corporation to participate in the program.
As added by P.L.162-2007, SEC.24. Amended by P.L.146-2018, SEC.17; P.L.10-2019, SEC.34; P.L.197-2021, SEC.9.