Okla. Admin. Code § 355:10-5-8

Current through Vol. 42, No. 8, January 2, 2025

Section 355:10-5-8 - Equity and managerial ability

(a) Equity on loans made by the Authority should be at least equal to 25% of the project's development cost. Equity should be considered as follows:

(1) Cash.

(2) Assets readily convertible to cash.

(3) Grant funds considered for working capital only.

(b) Borrowers must demonstrate managerial ability through past experience (5 years profitable).

Okla. Admin. Code § 355:10-5-8