Minn. R. agency 139, ch. 4305, pt. 4305.0030

Current through Register Vol. 49, No. 24, December 9, 2024

Part 4305.0030 - APPLICATION REQUIREMENTS AND PROCESS

Subpart 1.Requirements.

The applicant must submit to the agency an application in the form prescribed by the agency. At a minimum, the application must include:

A. the name of each essential employee who has been called to active service for 180 days or more, including:

(1) the employee's date of hire;

(2) the employee's job title;

(3) the nature of the employee's expertise;

(4) a statement as to how that expertise is critical to the day-to-day operation of the business;

(5) the employee's military unit name;

(6) the total length of the call to active service;

(7) a copy of the employee's active duty orders; and

(8) the employee's military unit contact person's name, telephone number, and e-mail address;

B. the name of the business, including:

(1) the type of legal business entity;

(2) a statement as to whether it is an affiliate or subsidiary of a business dominant in its field of operation;

(3) the number of employees;

(4) the annual gross revenues in the preceding fiscal year;

(5) whether the business is a technical or professional service; and

(6) evidence that the business is operating in Minnesota and, if the business is incorporated, that it is a corporation in good standing;

C. a proposed budget for the use of the loan funds received from the program; and

D. a statement of how this use will prevent, remedy, or ameliorate the business's substantial economic injury.

Subp. 2.Process.

The agency shall accept applications on an open application basis and make loans until all funds are committed. When all funds are committed, the agency may suspend the program until sufficient funds to make additional loans are available.

Minn. R. agency 139, ch. 4305, pt. 4305.0030

33 SR 2052

Statutory Authority: MS s 14.389; 116J.996