The Finance Committee may approve a loan request if it finds that:
The proposed business development project is feasible and a reasonable risk from practical and economic standpoints, the applicant demonstrates readiness for market, and the loan has reasonable prospect of repayment.
The applicant can provide good and sufficient collateral for the loan, or personal and/or corporate guarantees, or a combination of the preceding items, that are adequate relative to the risks and potential returns, and the applicants financial resources are adequate to ensure success of the project, all as determined by the Finance Committee at its sole discretion. Collateral value will be determined at the sole discretion of the Department.
The applicant demonstrates to the satisfaction of the Department a reasonable potential for strong gross profit margin and rapid sales growth that may support economic diversification in the state or the region in which the business is conducted, increase employment opportunities or retain existing jobs in the state or region, or increase the competitiveness of the applicant business in the traded sector;
Preference may be given to business development projects which include funding sources other than ORF, but ORF may fund up to 100% of the business development project.
Monies in the Fund are or will be available for the proposed business development project.
The applicant agrees to abide by all federal, state and local laws and regulations applicable to the applicants project.
The applicant, borrower, guarantors and principal owners are current on all obligations to the State of Oregon.