Oklahoma Administrative Code
Title 355 - Oklahoma Industrial Finance Authority
Chapter 10 - Industrial Development Lending
Subchapter 5 - Loan Application and Industrial Project Evaluation Criteria
Section 355:10-5-8 - Equity and managerial ability
Universal Citation: OK Admin Code 355:10-5-8
Current through Vol. 42, No. 1, September 16, 2024
(a) Equity on loans made by the Authority should be at least equal to 25% of the project's development cost. Equity should be considered as follows:
(1) Cash.
(2) Assets readily convertible to cash.
(3) Grant funds considered for working capital only.
(b) Borrowers must demonstrate managerial ability through past experience (5 years profitable).
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