Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 71 - MACHINERY AND EQUIPMENT
Subchapter A - MACHINERY AND EQUIPMENT LOAN FUND
Section 71.8 - Application evaluation

Universal Citation: 12 PA Code ยง 71.8

Current through Register Vol. 54, No. 44, November 2, 2024

In addition to the factors in the act for application evaluation, the Department will also review factors pertaining to business evaluation, project criteria and public benefit criteria, as follows:

(1) Business evaluation. The historical performance of an eligible business will be evaluated to assess its ability to repay the MELF loan. This evaluation may include:

(i) Financial performance of the business.

(ii) Financial performance of the owners.

(iii) Market performance.

(iv) Management ability.

(2) Project criteria. The merits of the proposed use of loan proceeds and other project funds will be assessed to determine the ability of the eligible business to repay the loan. This evaluation may include a review of:

(i) Projected sales and revenues.

(ii) Projected financial statements.

(iii) Value of the assets and collateral.

(iv) Changes in market strategy or management strategy, or both.

(3) Public benefit criteria. This analysis will include factors such as the following:

(i) The total full-time equivalent number of jobs to be created or retained, or both, as a result of the project.

(ii) The number of jobs to be created or retained, or both, for each MELF dollar invested.

(iii) The private investment to be leveraged as a result of the MELF investment.

(iv) The increase in productivity.

(v) The strategic importance to the Commonwealth of the industry or firm being assisted and the area being served.

Disclaimer: These regulations may not be the most recent version. Pennsylvania 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.