The Department may, from time to time, identify forms to be completed by Applicants and require such additional information or performance with respect to any application as it deems appropriate.
The Department may require an Applicant to pay an application fee of not more than $250 to recompense the Department for its reasonable expenses in processing the application.
The Department may require an Applicant to enroll in and successfully complete a business management program.
The Department may require an Applicant to complete a business plan, including identification of the Applicant’s proposed use of the requested Program Loan and demonstration of the ability to repay the Program loan.
Each Applicant must certify in a manner acceptable to the Department that they satisfy the eligibility requirements provided in OAR 274-013-0020 (Eligibility)(1).
The Department may deny applications that are incomplete or otherwise inconsistent with Program requirements, including those where an Applicant has failed to satisfy any requirements to completion of a business management program or to complete a business plan. The Department will provide notice of such a denial to an Applicant at the address listed in the application.
The Department may suspend consideration of an application during such periods when it has requested and is awaiting additional information or performance from the Applicant.
The Department may limit or refuse to accept applications depending upon Funds availability.
The Department may consider applications in such order as it deems appropriate. The Department may consider factors including, but not limited to the following in prioritizing its consideration of applications:
When the application was made;
The apparent need for a Program Loan;
The amount of the requested Program Loan;
The potential for ongoing business disruption;
Compliance by the Applicant with requests for information or performance; and
The accuracy and completeness of the application.
In determining whether or not to approve or deny a requested Program loan (in whole or in part), the Department may consider factors including, but not limited to the following:
The eligibility of the Applicant;
Factors identified above in Subparagraph (6);
The feasibility of the proposed Project;
The likelihood and timeliness of loan repayment;
Cooperation with and the results of any loan due diligence, including credit checks and appraisals;
The willingness to provide, and the value of, any loan Collateral; and
The availability of Funds.
Upon completion of its review the Department may, in whole or in part, approve or deny the application. The Department will provide the Applicant notice of its determination at the address identified in the application. Notwithstanding anything stated in an application approval, any application approval is subject to the Applicant or Small Business successfully passing, to the Department’s satisfaction, such credit checks and other due diligence as the Department may require or perform. Furthermore, and notwithstanding anything stated in an application approval, any application approval also is subject to the Applicant and Small Business (together with such guarantors as may be required by the Department) executing, recording and delivering such documents and instruments as the Department may require.