| (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 Capital
Access Program.
(b) Purpose. The purpose of this Program is to provide
increased access to financing for small and medium-sized businesses
by providing portfolio insurance through the establishment of loss
reserves to reduce risk assumed by lending institutions in lending
funds to Qualified Borrowers. 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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