Other loans or lines of credit to small manufacturers (Repealed)

(a) The Borrower shall provide evidence satisfactory to the Commissioner that it shall, concurrently with and in an amount not less than the loan or line of credit made pursuant to this Section, receive from a private financial institution, a local development corporation, or from the owners, partners or shareholders of the Borrower, a working capital loan, which shall be used for substantially the same purposes as the loan made pursuant to this section. (b) The term of the loan or line of credit shall not exceed seven years from the date of the first disbursement of the loan or line of credit. (c) The loan or line of credit shall be repaid on an amortized schedule of periodic payments or upon such other periodic methods of payment of principal and interest as the Commissioner considers appropriate in the particular circumstances, but in no event shall the periodic payments be scheduled to exceed seven years from the date of first disbursement of the loan. (d) The Authority may require the Borrower to provide the Department as security for the loan or line of credit mortgages or security interests in any of the following: real property, accounts, chattel paper, documents, instruments, general intangibles, goods, equipment, inventory or other personal property, and may further require the Borrower to have executed and delivered to the Commissioner security agreements, financing statements, mortgages, pledges, assignments, subordinations, guarantees or other documents or evidences of security as and in the form required by the Authority. (e) Disbursement of the loan shall be made at the discretion of the Commissioner in accordance with the provisions of the loan agreements and the instructions of the Authority.