5700.1 The purpose of this chapter is to establish procedures to provide loans to District of Columbia residents for the following purposes:

1. (a) The acquisition and expansion of District of Columbia businesses;
2. (b) The acquisition of real property in the District of Columbia for the formation, as well as development of small businesses; and
3. (c) The creation of training, employment, and ownership opportunities for residents, including but not limited to, low and moderate income residents in the District of Columbia.

AUTHORITY: Unless otherwise noted, the authority for this chapter is §7(a) of the Economic Development Finance Corporation Act of 1984, D.C. Law 5-89; as amended by §2 of the Fiscal Year 1986 Follow Through Act of 1985, D.C. Law 6-74, D.C. Code §1-2223(b) (1981).

SOURCE: Final Rulemaking published at 34 DCR 2680 (April 24, 1987).