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Code · New Jersey · Title 52 — Savings and Loan Associations [Repealed] · Chapter 27D

52:27D-372. Revolving loan fund.

78 words·~1 min read·/nj/title-52/chapter-27d/52-27d-372

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Each neighborhood housing services corporation or umbrella corporation which qualifies for a grant as provided in section 8 of this act shall establish and administer a revolving loan fund to make loans at below market interest rates and flexible terms of repayment to neighborhood homeowners who are unable to obtain mortgage financing on reasonable terms through normal lending channels for the purposes of preserving or revitalizing neighborhoods and to encourage home ownership.
L. 1987, c. 50, s. 7.
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