The corporation shall select, from among eligible applicants, regional corporations on the basis of:

Terms Used In Connecticut General Statutes 32-270

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(1) The ability of the regional corporation to administer a regional revolving loan fund authorized under sections 32-271 to 32-284, inclusive, or to enter into participating agreements with small business lending corporations;

(2) The extent of coordination with other publicly supported financial assistance programs available within the region represented by the regional corporation;

(3) The degree of public and private support within the region for the applicant regional corporation; and

(4) The ability of the regional corporation to provide financial and other assistance to businesses located in distressed areas within the region.

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