New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter L - New York State Urban Development Corporation › Part 4230 - Minority And Women-owned Business Development And Lending Program › Section 4230.3 - Eligible and ineligible program assistance recipients

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The corporation shall provide program
				assistance to beneficiaries directly or through intermediaries, as follows:
(1) A recipient of funds pursuant to a linked
				deposit shall be an intermediary that is an eligible banking organization
				proposing to make small loans, in accordance with section
				4230.5 of this Part, to
				beneficiaries that are minority and/or women-owned business
				enterprises.
(2) A recipient of
				funds pursuant to a minority and women revolving loan trust fund account and
				related administrative expense trust fund account shall be an intermediary that
				is an administering corporation proposing to provide trust fund loans, in
				accordance with section
				4230.6 of this Part, to
				beneficiaries that are minority and/or women-owned business enterprises
				proposing to undertake eligible trust fund projects.
(3) A recipient of contractor development
				assistance shall be either:
(i) a beneficiary
				that is a certified government contractor applying for a government contractor
				loan;
(ii) a beneficiary that is an
				eligible government contractor applying for government contractor bonding
				assistance;
(iii) an intermediary
				that is an eligible banking organization applying for a government contractor
				loan guaranty as set forth in paragraph (6) of this subdivision;
(iv) an intermediary that is a municipality,
				authority, agency or eligible banking organization proposing to provide, in
				accordance with section
				4230.7 of this Part:
(a) government contractor loans to
				beneficiaries that are certified government contractors; or
(b) government contractor bonding assistance
				to beneficiaries that are eligible government contractors; or
(v) an intermediary that is a
				eligible contracting agency proposing to provide, in accordance with section
				4230.12 of this Part, government
				contractor technical assistance to beneficiaries that are eligible government
				contractors.
(4) A
				recipient of program assistance in the form of a business development loan
				shall be a beneficiary that is a certified minority and/or women-owned business
				enterprise proposing to undertake a project that meets the criteria set forth
				in section
				4230.8 of this Part.
(5) A recipient of program assistance in the
				form of a franchise loan shall be a beneficiary that is a certified minority
				and/or women-owned business enterprise proposing to undertake a project that
				meets the criteria set forth in section
				4230.9 of this Part.
(6) A recipient of program assistance in the
				form of a loan guaranty shall be an intermediary that is an eligible banking
				organization proposing to make loans, in accordance with section
				4230.10 of this Part, to
				beneficiaries that are certified minority and/or women-owned business
				enterprises.
(7) A recipient of
				incubator assistance shall be an intermediary that is an eligible incubator
				sponsor proposing to undertake, in accordance with section
				4230.11 of this Part, an eligible
				incubator project to assist beneficiaries that are minority and/or women-owned
				business enterprises.
(8) A
				recipient of technical assistance shall be either an intermediary that is an
				eligible technical assistance provider proposing to provide technical
				assistance in accordance with section
				4230.12 of this Part, or a
				beneficiary that is an eligible technical assistance recipient as defined in
				section 4230.12 of this Part.