- (a) the Applicant is a Small Business that has been operating and engaged in substantially the same activity for a minimum of three (3) years prior to the time the Application is submitted to the Coordinator;
- (b) The Applicant demonstrates the ability to repay the Loan from operational cash flow.
- (c) Adequate Security exists to secure the Loan on the terms and conditions required by these regulations and agreed to by the Applicant.
- (d) The Loan is requested to fund a Project located in California.
- (e) The Applicant has an after tax net income in at least two (2) of the last three (3) full years of operation.
An Applicant shall be eligible for a Loan when the Coordinator determines that:
Note: Authority cited: Section 44520(a), Health and Safety Code. Reference: Sections 44533(b) and 44548, Health and Safety Code.
History
1. New section filed 10-11-94; operative 11-10-94 (Register 94, No. 41).