(a) General rule.— In addition to powers granted to an administrative entity in other laws, an administrative entity shall have the following powers necessary to operate a program:

1. (1) To issue loans to microenterprises that will operate on property owned by the administrative entity and leased to the microenterprise. The program shall target microenterprises owned by low-income individuals and diverse groups who are residents of this Commonwealth.
2. (2) To negotiate for loans and grants from both public and private sources in order to fund the program.
3. (3) To acquire property to lease to start-up entrepreneurs in order to facilitate the establishment of a microenterprise.
4. (4) To enter into an intergovernmental cooperation agreement with other administrative entities or municipalities relative to the operations of the program.