Current through Register Vol. 54, No. 49, December 7, 2024
Section 138a.9 - Review of applicationThe evaluation of the loan guarantee or interest deferral application will be based on the following criteria:
(1) The education, training and experience of the borrower in the type of farming for which the loan guarantee or interest deferral is requested.(2) The financial ability of the borrower to meet and satisfy debt service as it becomes due and payable as determined by financial statements and cash flow statements.(3) The sufficiency of available collateral.(4) The relevant criminal and credit history and ratings of the borrower as determined from credit reporting services and other sources.(5) The eligibility of the borrower and the project for which the guarantee or interest deferral is being sought.(6) The capital needs of the borrower.(7) The payment to date of all tax obligations due and owing by the borrower to the Commonwealth or political subdivisions.(8) Evidence that insufficient private funds are available at reasonable rates and terms within the necessary time without the requested assistance. This section cited in 7 Pa. Code § 138a.10 (relating to administration).