Section 457-314-4 - Application Procedure and Content (for other than direct loans to borrowers)A. From time to time, the Authority shall solicit applications for disbursements from the fund. The Authority shall specify a time within which applicants seeking consideration must have submitted a complete application. Any applications received after such time may be held for future consideration.B. Each applicant shall submit an application to the Chief Executive Officer on such forms and with such attachments as the Chief Executive Officer may require consistent with the purposes of the program and this rule.C. The Chief Executive Officer will review each application for completeness and eligibility. Applications that are not substantially complete may be deemed not received until completed. The Chief Executive Officer shall determine when an application is received, which determination shall be final.D. The application shall contain the following: (1) a description of the applicant, including its funding sources, the region or regions it serves and a summary of all of its direct lending programs, including account balances, lending criteria and default rates;(2) the methods and criteria the applicant employs for qualifying borrowers, including any lending and economic development strategies that target the types of eligible borrowers set forth in Section 9 of this rule;(3) the fees that an applicant intends to charge to a borrower for technical or administrative assistance and for loan commitments;(4) for disbursements not to be used for quality child care projects, the methods by which the applicant will leverage funds from other sources in an amount equal to at least two times the amount requested;(5) the applicant's investment policy;(6) for disbursements not to be used for quality child care projects, the applicant's strategy for creation and retention of jobs (written comprehensive plan for economic development in its area), and its strategy, if applicable, for real estate development including commercial, mixed-use real estate, and community facilities. Such a strategy must be submitted and demonstrated as part of the application process in order to make loans pursuant to Section 9(A)(1)(i);(7) for disbursements not to be used for quality childcare projects, the applicant's existing or proposed small business marketing , and technical assistance plan; (8) a description of the applicant's staff by organizational chart and résumé;(9) the applicant's organizational audits and program audits shall be provided for each year the applicant has administered programs in the three most recent years;(10) the applicant's proposed performance measurements and goals including default rates and a process for monitoring compliance therewith;(11) the applicant's collateralization plan;(12) the amount requested; and(13) such other information as the Authority may require.94- 457 C.M.R. ch. 314, § 4