| (a) Authority. Pursuant to the authority granted by
the Texas Government Code, Chapter 481, Subchapter BB, concerning
Access to Capital Programs, and Texas Government Code, Chapter 2001,
Subchapter B, concerning Rulemaking, the Economic Development and
Tourism Office in the Office of the Governor prescribes the following
rules to provide definitions, procedures, and eligibility standards
and criteria for the Texas Small Business Credit Initiative Loan Guarantee
Program.
(b) Purpose. The purpose of this Program is to provide
increased access to financing for small and medium-sized businesses
by guaranteeing portions of loans enrolled into the Program by Participating
Financial Institutions. Special consideration is given to Very Small
Businesses with fewer than 10 employees and businesses owned by Socially
and Economically Disadvantaged Individuals.
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