RSA 162-A:13-b Business Loan Enhancement Program.

I. Upon recommendation of the authority for the proper implementation of the declared purposes of this chapter, the governor and council may award a state guarantee of the principal of, interest on, and reasonable collection expenses related to, loans which meet the requirements set forth in this section. The maximum amount for which the state may be liable pursuant to a guarantee awarded in accordance with this section shall not at any time exceed the lesser of $250,000 or 22.23 percent of the maximum principal amount that may be borrowed under the terms of the loan, plus in either case interest and related reasonable collection expenses with respect to such loan. The full faith and credit of the state shall be pledged for any such guarantee; provided that the guarantee shall not c