Amortization: Paying off a loan by regular installments.
(1) accept United States Economic Development Administration revolving fund grants;(2) make loans to eligible applicants under the United States Economic Development Administration Long-Term Economic Deterioration (LTED) and Sudden and Severe Economic Dislocation (SSED) programs;(3) designate agents and delegate powers to them as necessary;(4) adopt regulations necessary to carry out its functions and to administer programs under United States Economic Development Administration guidelines, including regulations to establish reasonable fees for services provided;(5) establish amortization plans for the repayment of loans that may include extensions; and(6) charge and collect the fees established under this subsection.(b)[Repealed, Sec. 28 ch 90 SLA 1991].
