![]() What is the maximum amount of a loan guarantee? Hazard insurance is required on collateral (equal to the loan amount or depreciated replacement value, whichever is less). The lender must provide satisfactory justification of the discounts being used. Lenders will discount collateral consistent with sound loan-to-value policy with the discounted collateral value at least equal to the loan amount. Distribution or payment to a beneficiary of the borrower or an individual or entity that will retain an ownership interest in the borrower.Ĭollateral must have documented value sufficient to protect the interest of the lender and the Agency.Agricultural production, with certain exceptions (1).Lending, investment, and insurance companies.Churches or church-controlled organizations.Golf courses or golf course infrastructure.Guaranteed loan funds may NOT be used for: Business and industrial acquisitions when the loan will maintain business operations and create or save jobs.Debt refinancing when such refinancing improves cash flow and creates jobs.The purchase and installation of machinery and equipment, supplies or inventory.The purchase and development of land, buildings, and associated infrastructure for commercial or industrial properties.Business conversion, enlargement, repair, modernization, or development.Įligible uses include (but are not limited to): ![]() Check eligible addresses for Business Programs. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |