Required information. The applicant must present information necessary to determine if the applicant is an eligible applicant and is qualified to receive a loan guarantee under the program. Such information will include, at least, the following:

1. (1) an application form, provided by the Authority, which shall include the following information and attachments:

   1. (A) the applicant's name and address;
   2. (B) the applicant's current valid driver's license number;
   3. (C) the applicant's resume which identifies the agricultural experience of the applicant;
   4. (D) two credit references and two unrelated personal references;
   5. (E) information and/or letters of commitment regarding other funding sources, if applicable;
   6. (F) disclosure of any and all business affiliations of the applicant with members of the board, employees of the department, the staff and/or lender which could present a conflict of interest;
   7. (G) any other information which the applicant, the lender, or the Authority decide may be useful in the determination of the applicant's eligibility and/or creditworthiness; and
   8. (H) financial statements provided in accordance with generally accepted accounting principles. They should be typed or written in ink, dated (no more than three months old), and signed by the applicant and spouse, if applicable. Printed forms of other lending institutions will be accepted. A financial statement will be required from each person/entity who will become personally liable on the loan.
2. (2) a cash flow, production, or management plan for the period comparable to the term of the guarantee not to exceed three years;
3. (3) a letter from an agricultural science teacher in the applicant's school district, or the county extension agent in the area where the farm or ranch is located, stating that he/she has reviewed and approved the plan;
4. (4) a signed statement of a loan officer of the participating lender that a loan guarantee is required for approval of the loan;
5. (5) a completed application for a loan from a commercial lender, including all attachments and other supporting documentation, on which the applicant has indicated that the loan proceeds will be used to implement the applicant's plan. If available, the loan application must include four years of historical financial statements of any previous farming or ranching activity of the applicant, including balance sheets, income statements and cash flow statements, and applicant's complete federal income tax returns for the four years preceding the date of the application.

Source Note:The provisions of this §30.7 adopted to be effective November 15, 1993, 18 TexReg 7539; amended to be effective July 1, 1996, 21 TexReg 5686; amended to be effective October 21, 1996, 21 TexReg 9823; amended to be effective September 16, 1997, 22 TexReg 9243.