Current through Register Vol. 63, No. 9, September 1, 2024
(1) No later than
July 31 of each year, a lender shall, during the term of an Agreement, provide
an annual report to, and in a form prescribed by the Department, for the period
beginning July 1 of the immediate proceeding year and ending on June 30 of the
current year.
(2) The annual report
shall include, but is not limited to, the following information in a form or
format prescribed by the Department:
(a) The
annual and cumulative number and principal amount of all Enrolled Loans made by
the lender.
(b) The current
principal balance of each Qualified Loan enrolled in the Program.
(c) For each Enrolled Loan, the following
information:
(A) The amount of the
project;
(B) The term and
amortization of the loan;
(C) The
purpose of the loan; and,
(D) The
source and amount of other capital in the project.
(d) The number of loans that were declined,
the amounts of the declined loans and the primary reasons for the
declines.
(e) The number and amount
of non-performing Enrolled Loans.
(f) Any other information required in the
reporting form by the Department.
(3) With respect to Qualified Borrowers or
Qualified Businesses, the annual report shall include, but may not be limited
to:
(a) The NAICS code of the operating
entity.
(b) The primary city and
county in which the operating entity conducts business.
(c) The city and county in which the loan
proceeds were used.
(d) Annual
income of the Business.
(e)
Voluntarily reported demographic data as prescribed by the Department,
including, but not limited to, whether a Qualified Business is owned by a
woman, a minority individual, a veteran of any branch of the Armed Forces of
the United States, the National Guard or other reserve component, a low-income
person or a person operating the business in a rural area of this
state.
(f) The Business
Identification Number provided by the Oregon Employment Department and the
corresponding:
(A) Number of individuals
employed by the Qualified Borrower or the Qualified Business at the time of
application; and,
(B) The number of
fulltime jobs projected by the Qualified Borrower or Qualified Business to be
created and/or retained as a result of the Enrolled Loan.
(g) The principal balance of each Enrolled
Loan that was delinquent during the reporting period.
(h) The principal balance of each Enrolled
Loan that is/was in default during the reporting period.
(i) The number and amount of Claims
submitted.
(j) The number and
amount of Claims approved by the Department.
(k) The amount of recoveries received
subsequent to payment of a Claim from the Loan Loss Reserve Account.
(4) With respect to the lender,
the annual report shall include, but may not be limited to:
(a) An annual financial report of the
lender.
(b) A copy of the last
fiscal year audit of the lender.
(c) A summary of outreach conducted by the
lender to SEDIs and SEDI-owned businesses.
(d) A summary of all referrals made to other
federal, state, regional or local capital and/or technical assistance
providers.
(e) A summary of all
projects co-funded with other federal, state, regional or local capital and/or
technical assistance providers.
(f)
A summary of business lending activity within Oregon not enrolled in the
Program including aggregately reported demographic data voluntarily provided by
the recipients.
(5) A
final report is due to the Department the earlier of 45 days after the
termination of the Agreement, the Agreement maturity date, the lender's notice
of withdrawal from the Program or July 31, 2033. The final report shall be
submitted in a form acceptable to the Department and shall include, but may not
be limited to:
(a) The total number and total
dollar amount of Enrolled Loans;
(b) The average interest rate, term and
amount of Enrolled Loans;
(c) The
cities and counties in which Borrowers primarily used the loan
proceeds;
(d) The total number and
total dollar amount of approved Claims;
(e) The aggregate performance of Enrolled
Loans; and
(f) The aggregate
demographic data for Enrolled Loans.
Statutory/Other Authority: ORS
285A.075 & ORS
285B.780 - ORS
285B.799
Statutes/Other Implemented: ORS
285B.780 - ORS
285B.799 & ORS
706.008
