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W <br />8 The interest rate any payment structure are negotiable dependent on the applying <br />business job creating potential and tax base increasing potential for the community <br />9 The applicant must meet the undernTiting criteria of the private financial institution <br />participating in the project <br />10 Collateral pledged must be approved by both EDA and participating financial institutions <br />11 Revolving loan fund proceeds can be used to transfer ownership through the acquisition <br />of fixed assets unless the transfer results in a physical remodeling or expansion project <br />approved by the EDA <br />12 Applicants must provide current records in a form acceptable to the EDA <br />13 Applicants must provide valid bids for the work or equipment proposed <br />14 The EDA must have available to it projections of performance to support repay ability <br />with the required business plan <br />e