Section 60.05.01.101 - CREDIT GUIDELINES01.Standards for Acceptable Loans. There must be adequate assets and collateral for security to protect the state from risk of loss.02.Required Documentation. The applicant must provide documentation to the Commission sufficient to determine the applicant's ability and willingness to repay the loan. Such documentation may include: financial statements; balance sheets; profit and loss statements; driver's license; income tax returns; budgets; credit reports; estimates/quotes; deeds; leases; and other supporting documents as deemed necessary relative to the size, complexity, and financial responsibility of the individual or entity being financed.03.Duty to Inform. After submitting the application and before funds are dispersed, the applicant must inform and provide documentation to the Commission of any significant change of circumstance that may impact their financial standing or ability to repay the loan.04.Field Inspections. The Commission may require a field inspection in order to: a. Determine loan and security positions, provide repayment estimates and verify assets.b. Indicate the applicant's management ability.c. Secure a complete and accurate description of collateral for the security agreement.05.Additional Information Required for Loans Secured with Real Estate. Where real estate is offered as collateral the following information must be provided: a. A legal description of the offered collateral.b. Real estate appraisal, consisting of at least one (1) of the following: i. Copy of appraisal made by a licensed professional appraiser approved by the Commission.ii. Copy of the most recent property tax assessment.iii. Evaluation made by Commission or the local District according to its knowledge of the estimated average value of the property in the area in which the project is to be implemented.c. A map designating the location of the real estate.06.Other Collateral. Any item having tangible value may be accepted as security for these loans. Condition of the collateral must be updated periodically and additions to the security agreement may be required over time.Idaho Admin. Code r. 60.05.01.101