Delaware Administrative Code
Title 1 - Authorities, Boards and Commissions
400 - Delaware Economic Development Office
402 - Procedures Governing The Delaware Strategic Fund
Section 402-7.0 - Evaluation Process
Universal Citation: 1 DE Admin Code 402-7.0
Current through Register Vol. 28, No. 3, September 1, 2024
7.1 When an Application is complete to the satisfaction of the Authority, the Authority will evaluate the Project, which evaluation may be based on the following:
7.1.1 Visitation to the Applicant's place of
business, which may take place prior to the Application as a part of the
meeting to determine eligibility.
7.1.2 Analysis of historical and projected
financial statements and a comparison to industry peers.
7.1.3 An independent industry study (using
source material such as RMA Annual Statement Studies), comparing the
Applicant's projections to the study, and considering the short term and long
term outlook for the industry.
7.1.4 Contact with the Applicant's customers
to ascertain the quality of the product or service provided, the
competitiveness of the pricing, reliability and timelines of delivery, length
of the relationship, likelihood of the relationship being continued, and
customer's opinions of the Applicant's management.
7.1.5 Contact with the Applicant's suppliers
to ascertain the length of the relationship, the amount of credit extended, the
amount of purchases, payment history, the likelihood of the relationship being
continued, and possibly an opinion of Applicant's management.
7.1.6 Contact with the Applicant's bank(s) to
ascertain credit history and obtain an opinion of the Applicant's
management.
7.1.7 An analysis of
collateral available to secure any requested financing as to adequacy of
amount, quality, condition, and marketability.
7.1.8 Independent credit investigations of
the Applicant and its principals, which may include judgment and lien
searches.
7.1.9 Independent
inquiries about the Applicant and its principals with other agencies of the
State, other states, or the United States.
7.2 After completing the evaluation, a determination shall be made regarding the merits of the request, the adequacy of the collateral available to secure the requested financing, if applicable, and, if applicable, the likelihood of repayment.
7.3 If a positive determination is made, the requested financing will be presented to the Chairperson for preliminary approval.
Disclaimer: These regulations may not be the most recent version. Delaware may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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