(a)

1. (1) While the Technology Equipment Revolving Loan Fund Committee has flexible loan criteria, there must be a reasonable expectation that the borrower will repay the loan.

2. (2) Loan applicants must demonstrate patterns of stability such as:

   1. (A) Type of residence;
   2. (B) Length of time at residence;
   3. (C) Length of time at present job; and
   4. (D) Credit history.

3. (3) An applicant with a poor credit history will be required to present evidence that he or she is addressing the issue by:

   1. (A) Reducing his or her current debt ratio;
   2. (B) Assuring cash flow is sufficient for living expenses and loans; and
   3. (C) Making written arrangements with borrowers.

(b)

1. (1) The two (2) most important criteria for an AATAFP loan are:

   1. (A) Credit history; and
   2. (B) Capacity to repay.
2. (2) An application will be declined if the applicant exhibits a pattern of adverse credit that cannot be adequately explained and is not being addressed.
3. (3) An individual who does not have adequate resources after paying all other obligations (as measured by a debt-to-income ratio or discretionary income) may not be approved for a loan or a loan guarantee.

(c)

1. (1) The committee will not provide loans for terms that exceed the amortized value or the general life expectancy of the equipment.
2. (2) While the committee may make exceptions for individuals who can prove their ability to repay, a fifty percent (50%) debt-to-income ratio (including the monthly AATAFP loan payment) is required for loan approvals.
3. (3) Applicants who do not meet that requirement may provide a qualified coapplicant.

(d)

1. (1) Individuals having debt or credit issues will be required to provide additional financial and/or other information in order to qualify for a loan guarantee.
2. (2) Individuals having unacceptable credit may provide a qualified coapplicant.
3. (3) If the committee cannot verify that an applicant's poor credit history is directly related to the individual’s disability, the committee will not approve an AATAFP guaranteed loan application.
4. (4) The committee will also deny individuals who do not exhibit financial or personal stability.