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<br />ct('-f <br />7. The term of the loan should coincide with the terrn of the private portion of the loan, but <br /> may be shorter. . <br />8. The interest rate and repayment 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 underwriting criteria of the private financial institution <br /> participating in the project. <br />10. Collateral pledged must be approved by both City and patiicipating financial institutions. <br />11. Revolving loan fund proceeds cannot be used to transfer ownership through the <br /> acquisition of fixed assets unless the transfer results in a physical remodeling or <br /> expansion project approved by the City. <br />12. Applicants must provide current records in a form acceptable to the City. <br />13. Applicants must provide valid bids for the work or equipment proposed. <br />14. The City must have available to it, projections of perforrnance to support repayment <br /> ability with the required business plan. <br /> . <br /> . <br />