Code of Maine Rules
94 - INDEPENDENT AGENCIES
178 - ADAPTIVE EQUIPMENT LOAN PROGRAM FUND BOARD
Chapter 503 - KIM WALLACE ADAPTIVE EQUIPMENT LOAN PROGRAM UNDERWRITING GUIDELINES
Appendix 178-503-1 - Business Loan Matrix
|
Risk Rating |
|
1 Superior |
2 Desirable |
3 Acceptable |
4 Marginal |
5 Substandard |
6 Doubtful |
7 Loss |
|
|
Credit History - (suggested range) |
Clear - (750+) |
3 Derog max 0>30 days (700-749) |
5 Derog max 1>60 days (650-699) |
5 Derog max 1>60 days (575-649) |
Some >90 days - (500-574) |
Many >90 days - (450-499) |
Bankruptcy /Charge offs (Below 450) |
|
Cash Flow |
2 years + 1.3:1 |
1 year + 1.15-1.25:1 |
1 year + 1.1-1.15:1 |
0.8-1.1:1 |
0.6-0.79:1 |
0.5-0.6:1 |
Insufficient or Pro Forma |
|
Debt Ratio |
38% max |
40% max |
45% max |
48% max |
Over 48% |
Over 50% |
Over 55% or Pro Forma |
|
Lien Position |
1st |
2nd |
Unsecured or >LTV |
||||
|
LTV |
<70% |
<80% |
<90% |
<95% |
96%-100% |
100 -101% |
101 - 105% |
|
Management Exp |
6 years + |
5 years + |
4 years + |
3 years + |
2 years + |
1 years + |
> 1 year experience |
|
Risk Factor Credit History |
A Rank (1-7) |
B Weight 25% |
AxB Total 0 |
Score of 1 - 3.99 = Approval Score of >= 4.00 = Denial |
|
Cash Flow |
40% |
0 |
||
|
Debt Ratio |
5% |
0 |
||
|
Lien Position |
5% |
0 |
||
|
LTV |
10% |
0 |
Score of 1-1.99 = Prime -1 |
|
|
Management Exp. |
15% |
0 |
Score of 2-2.99 = Prime |
|
|
Total Score |
0 |
100% |
0 |
Score of 3-3.99 = Prime +1 |
