Section 5281 - Borrower EligibilitySubject to all other provisions of the act and these regulations, an applicant shall be eligible for a Metal Plating Loan Guarantee when all the following conditions are met:
(a) The applicant has been assigned an identification number.(b) The applicant is an existing, viable business with the ability to repay a loan, as determined by a corporation or a lender.(c) The loan request is for funds to purchase and install environmental control equipment, as approved by the Air Board or Air District, Department, or Water Board.(d) The lender and the corporation determine that an adequate source of repayment and collateral exists to secure the loan.Cal. Code Regs. Tit. 10, § 5281
1. New section filed 7-26-2006 as an emergency; operative 7-26-2006 (Register 2006, No. 30). This regulatory action is deemed an emergency, was filed directly with the Secretary of State, and shall remain in effect until revised or repealed by the Business, Transportation and Housing Agency pursuant to Public Resources Code section 42106. Note: Authority cited: Section 42106, Public Resources Code. Reference: Sections 42101, 42101.1, 42101.3 and 42103, Public Resources Code.
1. New section filed 7-26-2006 as an emergency; operative 7-26-2006 (Register 2006, No. 30). This regulatory action is deemed an emergency, was filed directly with the Secretary of State, and shall remain in effect until revised or repealed by the Business, Transportation and Housing Agency pursuant to Public Resources Code section 42106.