New Hampshire Code of Administrative Rules
Bfa - Business Finance Authority
Chapter Bfa 300 - GENERAL CREDIT ENHANCEMENT PROGRAM RULES
Part Bfa 302 - SPECIFIC INFORMATION REQUIREMENTS FOR APPLICATIONS
Section Bfa 302.05 - Guaranteed Asset Program
Universal Citation: NH Admin Rules Bfa 302.05
Current through Register No. 12, March 21, 2024
(a) Applications for a credit enhancement under RSA 162-A:13 shall be made by the private financial institution.
(b) Such applications shall provide the following information:
(1) The name and address of private financial
institution;
(2) An identification
of private financial institution;
(3) The form and ownership of private
financial institution;
(4) A
financial statement or statements, prepared by an independent accountant, of
private financial institution;
(5)
A certification stating compliance by the business or project with the
Americans With Disabilities Act and Equal Opportunity Act;
(6) The name and address of the
borrower;
(7) The name and address
of project(s) involved in the transaction;
(8) The line(s) of business(es) involved in
the transaction;
(9) The background
on management of business or project;
(10) The background of all parties to
transaction;
(11) A description of
transaction, including the following:
a.Project start date;
b.Project completion date; and
c.Projected productivity
improvements;
(12) An
analysis of sources and uses of funds financing each specified purpose of the
transaction;
(13) A discussion of
principal factors that make the transaction speculative or one of high
risk;
(14) A description of
material legal proceedings affecting business or project;
(15) A statement as to the accounting
treatment of transaction;
(16) A
disclosure of all persons who will directly or indirectly receive proceeds of
this transaction as compensation for services;
(17) A description of the material terms of
the proposed transaction involving authority funds or resources;
(18) A summary of material terms of the
following items involved with transaction:
a.Loan agreements;
b.Lease agreements;
c.Acquisition agreements;
d.Security agreements; and
e.Guarantee agreements;
(19) A description of the private financial
institution's ability to monitor the performance of the project;
(20) An identification of primary and
secondary sources of repayment;
(21) A cash flow analysis;
(22) The copies of professional appraisals of
collateral;
(23) The appraisal
required by Bfa 301.02(f);
(24) An environmental site assessment if real
estate is involved;
(25) The
financial statements, prepared by an independent accountant, for the business
or project for 3 years prior to current year;
(26) A certification by the borrower of the
following:
a.The borrower is duly organized,
validly existing and in good standing under the laws of the state;
b.The borrower is not in violation of any
term of its articles of incorporation or by-laws;
c.The borrower is not in violation of any
term of any mortgage, loan agreement, or indenture to which it is a party or by
which it is bound; and
d.The
borrower is not in violation of any term of any other agreement, instrument,
judgment, decree, order, statute, rule, or governmental regulation;
(27) A statement identifying the
following:
a.The ways the transaction serves a
public use and provides a public benefit;
b.The ways the transaction promotes the
social welfare and economic prosperity of the area and the general welfare of
New Hampshire citizens;
c.The ways
the transaction promotes development of business activities, creates or
preserves employment opportunities, or protects physical environment;
and
d.Why the guarantee will
contribute significantly to the success of the transaction;
(28) The number of employment
positions current, created, preserved and projected;
(29) The number of current full-time
employees and part-time employees; and
(30) The estimated wage levels of current and
projected jobs.
(c) In the event the requested information cannot be provided, a detailed explanation of the reason why the requested information cannot be provided shall be included in said application.
(See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93
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