D.C. Mun. Regs. tit. 10, r. 10-B5704

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B5704 - CRITERIA FOR BUSINESS ACQUISITION AND EXPANSION LOANS

5704.1

Applications shall be judged on the following factors:

(a) The suitability of the proposed business to the neighborhood;

(b) Projected ability to meet its obligations and continue as an on-going concern;

(c) The number of jobs generated in the District;

(d) The amount of equity invested in the business; and

(e) The level of management experience in the specific line of the proposed business.

5704.2

The proposed business use shall comply with the Zoning Regulations, any applicable Urban Renewal Plan, or the Comprehensive Plan, of which the one exercising the most restrictive use controls shall govern.

5704.3

Loans shall be used for the following:

(a) Small and large machinery and equipment;

(b) Inventory;

(c) Furniture and fixtures;

(d) Working capital; and

(e) In limited cases, refinancing.

5704.4

Refinancing shall be considered only in those instances where the proceeds will purchase all outstanding liens against the property and facilitates clear title for the District.

D.C. Mun. Regs. tit. 10, r. 10-B5704

Final Rulemaking published at 34 DCR 2680, 2683 (April 24, 1987)