N.Y. Comp. Codes R. & Regs. tit. 21 § 4244.8

Current through Register Vol. 46, No. 25, June 18, 2024

Section 4244.8 - Underwriting criteria

(a) Information submitted will be evaluated by the corporation's standard underwriting criteria, including but not limited to the following:

(1) the ability of the applicant to repay the project loan;

(2) borrower must display profitability or potential for such;

(3) performance ratio analysis must yield satisfactory results, including:

(i) sufficient liquidity;

(ii) sufficient cash flow to service debt;

(iii) reasonable leverage;

(4) there must be no tax judgments in place;

(5) sufficient collateral must be in place;

(6) credit checks must be satisfactory;

(7) principals must display sufficient management ability; and

(8) borrower should be knowledgeable of market and industry.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4244.8