Rhode Island Code of Regulations
Title 830 - Infrastructure Bank
Chapter 10 - Programs
Subchapter 05 - Energy
Part 3 - Clean Energy Fund Policies and Procedures
Section 830-RICR-10-05-3.9 - Loan Approval Process

Universal Citation: 830 RI Code of Rules 10 05 3.9

Current through September 18, 2024

A. Loan approvals are subject to the following terms:

1. That the loan complies with all applicable federal, state and Bank laws, rules and regulations;

2. That the loan and debt service requirements be approved by any applicable regulatory agency;

3. That a satisfactory loan agreement be signed by all parties to the transaction; and

4. That the loan will be made subject to availability of funds.

B. The Bank will conduct a financial analysis for each loan application which may include, but not be limited to:

1. Sources of revenue and financial liquidity;

2. Historical and projected financial operating results;

3. Present and future debt service requirements;

4. Impact of dedicated user fees and/or general revenues;

5. Cost of the Project and completion schedule;

6. Socioeconomic conditions and trends;

7. Management qualifications and experience;

8. Effects of legal structure and any regulator control; and

9. Any other information that the Bank may require.

C. If the Board approves the loan application, a commitment letter will be issued to the Borrower for their acceptance, outlining the terms and conditions of the loan.

Disclaimer: These regulations may not be the most recent version. Rhode Island 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.
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