SECTION 355:10-5-8. Equity and managerial ability

Latest version.

(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).

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');