Section 3 AAC 102.060 - Application review(a) The authority will determine, in its sole discretion, whether to approve an application for NMTC leverage loan product by evaluating the following, among other considerations: (1) existing and prior debts;(2) credit reports obtained from creditors and private credit reporting services;(3) prior loan history with the authority;(4) timeliness in making payments on loans and other debts;(6) existence of tax liens;(7) unpaid judgments and prior foreclosures; and(8) financial and credit reputation.(b) The authority will weigh any evidence of recent unacceptable credit activity more heavily against the applicant.(c) The authority shall also consider the following factors in evaluating a borrower's ability to repay:(1) income history, including present income;(2) prospects for future income;(3) assets and their liquidity;(5) reasonableness of projected profit and loss statement; and(6) other relevant information.Eff. 3/29/2013, Register 207Even though 3 AAC 102.060 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.
Authority:AS 44.88.085
AS 44.88.770