2. Provide evidence. The qualifying small business must provide evidence satisfactory to the board of matching funds in cash in an amount equal to the disbursement. Such matching funds may be in the form of debt or equity, but must be at risk in the qualifying small business for a minimum of 5 years. In the case of natural resource-based businesses, the amount of matching funds may be in cash in a negotiable amount that is less than the disbursement.

Sec. 6. 10 MRSA §389, as enacted by PL 1995, c. 699, §3, is amended to read:

§389. Cooperation and coordination

The University of Maine System, the Small Business Development Center Program, the Maine World Trade Association and, the Maine Science and Technology Foundation and other state agencies shall provide such support and assistance as the board may request, within the expertise of each.

SUMMARY

This bill adds the Commissioner of Agriculture, Food and Rural Resources as a member of the Small Enterprise Growth Board. The bill also adds ethanol production or processing facilities as a business that qualifies for funding under the Small Enterprise Growth Program.