Grants may be diverted for the start-up or retention of worker-owned businesses if:

(1) A feasibility study or business plan is completed on the proposed business; and

(2) The project is approved by the loan committee of the *Washington state development loan fund as created by RCW 43.168.110.

*Reviser's note: The "Washington state development loan fund" was renamed the "rural Washington loan fund" pursuant to 1999 c 164 s 504.