123-021-2500 Application Contents (1) Required Contents. Unless waived by the Department, the Financial Institution shall submit to the Department an application containing the following: (a) A completed General Information Sheet provided by the Department. (b) A written narrative by the Financial Institution analyzing the Borrower's application (i.e., credit analysis and presentation), including an identification of the proposed amount of the loan; the requested percentage of insurance; Department insurance program under which the insurance is requested; the purpose, terms and conditions of the loan; a description of the collateral and basis for its valuation; a summary of the Borrower's credit standing; and a description of other sources of financing. (c) Complete resumes of the Borrower, all partners, owners, officers and guarantors, as applicable. (d) Historical business financial statements for the prior three years, including income statements and balance sheets (income tax returns may also be required), as applicable, if an existing Borrower. Income tax returns may be sufficient if accountant-prepared statements are unavailable. Interim financial statements must also be included if the most recent statements are more than 90 days old as of the application’s filing date. (e) Signed current personal financial statement(s) of owners with a minimum 20% ownership interest in the Borrower. Federal tax returns may be required. This information may also be required of guarantors. (f) Pro forma balance sheet and income statement with supporting assumptions. In some instances, monthly cash flow statements may also be required. Cash flow statements are required in cases where loan repayment is dependent on projections and for Borrowers seeking working capital financing. (g) For loans secured in whole or part by real property and for other insured loans, if requested by the Department, completion of the Department's environmental questionnaire or a comparable questionnaire provided by the Financial Institution and accepted by the Department. (h) Such other information as the Department may require including, but not limited to, projected jobs to be created and/or retained by a Borrower and voluntarily reported demographic data. (2) Supplemental Information. The Department may require, at its discretion: (a) Appraisals of collateral or the Financial Institution's basis for determining collateral value; (b) A business or marketing plan, including an analysis of competition; (c) Certificates from the Oregon Department of Environmental Quality or any other governmental or regulatory agencies with jurisdiction, if applicable; (d) Copies of leases or purchase agreements, as applicable; (e) Any other information or certifications from the Borrower or the Financial Institution deemed by the Department to be necessary or desirable in connection with an insured loan application. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-0400, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0040, filed 01/18/2023, effective 01/18/2023 OBDD 7-2012, f. & cert. ef. 6-1-12 OBDD 8-2011(Temp), f. & cert. ef. 12-8-11 thru 6-5-12 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94