Sec. 32-268. Eligibility.
Sec. 32-268. Eligibility. To be eligible for a grant under section 32-267, a regional
corporation shall:
(1) Have available to it staff with sufficient expertise to analyze applications for
financial assistance, to regularly monitor financial assistance to clients, and have made
arrangements to provide management or technical assistance to clients;
(2) Have an effective plan to market its services to small businesses through such
entities as chambers of commerce, industry trade associations, banks, local development
corporations, community-based organizations and industrial development agencies;
(3) Have established a loan committee composed of five or more persons experienced in commercial lending or in the operation of a for-profit business and a staff
person of the regional corporation. Such loan committee shall review every application
to the regional corporation for financial assistance pursuant to sections 32-271 to 32-284, inclusive, shall determine the feasibility of the transaction proposed in the application and shall recommend to the board of directors or other governing body of the
regional corporation such action as the committee deems appropriate.
(P.A. 92-236, S. 9, 48.)