                                 CODE OF VIRGINIA

LOANS TO LENDERS; CONDITIONS (§ 2.2-2293)

The Authority may make, and undertake commitments to make, loans to lenders
under terms and conditions requiring the proceeds thereof to be used by the
lenders to make loans to eligible small businesses. Loan commitments or actual
loans may be originated through and serviced by any such lender. As a condition
to a lender&#8217;s participating in the loan, the lender shall agree to use the
proceeds of the loan within a reasonable period of time to make loans or
purchase loans to provide to eligible small businesses, or finance the projects
of eligible small businesses, in the Commonwealth or, if the lender has made a
commitment to make loans to eligible small businesses on the basis of a
commitment from the Authority to purchase the loans, the lender shall make the
loans within a reasonable period of time.

HISTORY: 1984, c. 749, § 9-217; 2001, c. 844.