Document Citation: 10 CCR 4016

Header:
CALIFORNIA CODE OF REGULATIONS
TITLE 10. INVESTMENT
CHAPTER 6.51. BUSINESS, TRANSPORTATION AND HOUSING AGENCY: EMERGENCY SMALL BUSINESS AND FARM ENTERPRISE GUARANTEES
ARTICLE 2. SMALL BUSINESS LOANS

Date:
08/31/2009

Document:
§ 4016. Eligibility for a Guarantee to a Small Business

A Corporation shall only execute a Guarantee to a Small Business upon a finding of eligibility. A finding of eligibility shall include all of the following:

(a) The Borrower is the owner of a Small Business.

(b) At least 50 percent of the Borrower's revenue during the calendar year in which the Disaster occurred originated from locations in the Disaster Area.

(c) Loan proceeds will be used exclusively to fund Physical Damage and/or Economic Injury costs.

(d) Borrower is creditworthy.

(e) The Corporation determines that the Loan meets the requirements for available Small Business Administration Physical Disaster Loan or Economic Disaster Loan pursuant to 13 C.F.R. section 123, subparts C and D, and that the Borrower has submitted an Application to the Small Business Administration pursuant to these subparts.