Cal. Code Regs. tit. 4 § 8051

Current through Register 2025 Notice Reg. No. 2, January 10, 2025

Section 8051 - Eligibility

An Applicant shall be eligible for a Loan when the Coordinator determines that:

(a) the Applicant is a Small Business that has been operating and engaged in substantially the same activity for a minimum of three (3) years prior to the time the Application is submitted to the Coordinator;

(b) The Applicant demonstrates the ability to repay the Loan from operational cash flow.

(c) Adequate Security exists to secure the Loan on the terms and conditions required by these regulations and agreed to by the Applicant.

(d) The Loan is requested to fund a Project located in California.

(e) The Applicant has an after tax net income in at least two (2) of the last three (3) full years of operation.

Cal. Code Regs. Tit. 4, § 8051

1. New section filed 10-11-94; operative 11-10-94 (Register 94, No. 41).

Note: Authority cited: Section 44520(a), Health and Safety Code. Reference: Sections 44533(b) and 44548, Health and Safety Code.

1. New section filed 10-11-94; operative 11-10-94 (Register 94, No. 41).