Regulations of Connecticut State Agencies
(a) The term for repayment of any real estate loan shall not exceed ten years. The term of loans for all other purposes shall not exceed seven years.
(b) The maximum loan amount shall be $200,000. The maximum amount of a specific loan shall be based on a general guideline of $15,000 of financing from this loan fund for each new, permanent full time position created by the business.
(c) The applicant is responsible for all attorney's fees and any other closing costs. Legal fees may be drawn from the fund.
(d) Disbursement of the loan shall be made at the discretion of the Commissioner in accordance with the provisions of the loan agreement.
(e) The Commissioner shall determine the method of payment of interest and principal due with respect to each loan.
(Effective August 28, 1984)