S.D. Admin. R. 12:22:03:06

Current through Register Vol. 51, page 67, December 16, 2024

Section 12:22:03:06 - Factors for board action

When making a decision on an application, the board may, in addition to other factors necessary to make a prudent funding decision, consider the following:

(1) The concept is new technology or a new application of existing technology with a reasonable assurance that the concept will work;

(2) Preliminary market and feasibility research has been conducted by the applicant or others, and there is a reasonable assurance of a potential market;

(3) The applicant has demonstrated the ability to manage the commercialization of the concept and has prepared a commercialization development plan;

(4) There are favorable recommendations for the project from local economic development groups, university-based technical specialists, or other qualified service providers;

(5) There are adequate references available to determine the applicant's, and any consultant's, qualifications and background;

(6) The applicant demonstrates a personal commitment to the project;

(7) The capacity of the applicant to repay a loan, if awarded, including the amount of the loan; the economic feasibility of the project and product; the ability of the applicant to service the debt from cash flow of operations, capital, or collateral; the review of the financial status of the project, business plan, and applicant; the satisfaction of engineering, legal and environmental regulations; and the availability of necessary utilities;

(8) The amount, terms, and conditions of the loan, if awarded, and compatibility with the needs of the business and the VASF;

(9) There is an adequate and realistic budget projection;

(10) Compatibility with economic development plans of the area and state;

(11) The balance remaining in the VASF; and

(12) The project follows or will adhere to all environmental laws and regulations.

S.D. Admin. R. 12:22:03:06

40 SDR 109, effective 12/9/2013.

General Authority: SDCL 38-6-16.

Law Implemented: SDCL 38-6-16.