Oregon Business Development Department
Chapter 123
Division 19
OPERATION OF OREGON ENTREPRENEURIAL DEVELOPMENT LOAN FUND
123-019-0090
Payment of Monies for Project
(1) The Finance Manager shall be the sole judge of the suitability and eligibility of a Project for financing from the Fund, and approval of such financing shall be in the sole discretion of the Finance Manager.
(2) If the Finance Manager approves a loan for a Project, the Department shall pay monies for the Project from the Fund, in accordance with the terms of the loan contract as prescribed by the Finance Manager.
(3) If the Finance Manager determines that a loan should be made, the Finance Manager shall also determine the amount of the loan and authorize the disbursement of the funds. The Finance Manager may authorize the Department to disburse the funds and execute such documents as may be necessary to conclude the transaction.
Statutory/Other Authority: ORS.285A.075
Statutes/Other Implemented: ORS 285A.075, .285B.740 - 285B.758, Ch. 765 & OL 1993
History:
OBDD 1-2023, amend filed 01/18/2023, effective 01/18/2023
OBDD 4-2022, temporary amend filed 03/09/2022, effective 03/09/2022 through 09/02/2022
OBDD 34-2010, f. & cert. ef. 10-1-10
OBDD 10-2010(Temp), f. & cert. ef. 4-12-10 thru 10-9-10
EDD 12-1992, f. & cert. ef. 8-26-92
EDD 16-1991(Temp), f. & cert. ef. 11-8-91