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8.97.1803    CRITERIA FOR EVALUATING APPLICATIONS FOR PROJECT FINANCING UNDER THE MOBP PROGRAM

(1) In evaluating applications for financing under the MOBP program and the requirements of ARM 8.97.1802, the board will consider the following factors:

(a) the applicant's net worth;

(b) the applicant's training and experience in the industry involved in the project;

(c) the applicant's prospect for succeeding in the proposed project;

(d) all materials submitted by the applicant and the financial institution as part of the application;

(e) the financial condition of the financial institution issuing a letter of credit for the proposed financing; and

(f) other information deemed necessary to protect the board's investment.

(2) The board reserves the right to require a borrower or a financial institution to provide such additional security as the board deems appropriate, including but not limited to a pledge of tangible or intangible assets.

History: Sec. 17-5-1504, 17-5-1521, MCA; IMP, Sec. 17-5-1504, 17-5-1521, MCA; NEW, 1989 MAR p. 659, Eff. 5/26/89.

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