Section 715.510  Business Guarantee Application

A participating financial institution, in conjunction with a business seeking a loan guarantee, will submit a business guarantee application to the Treasurer for review and approval of the guarantee. The business guarantee application will include the following information for each business seeking a loan guaranteed by the Program:

a)         the name and type of business;

b)         projected annual revenues and expenses;

c)         the current registered business address;

d)         tax identification number associated with the business;

e)         the dollar amount of the loan being sought;

f)         the purpose of the loan;

g)         the reason that existing loan products did not meet the needs of the borrower; and

h)         other information that the Treasurer deems useful in determining the eligibility of the business to participate in the Program.