WILLIAM DONALD SCHAEFER, Governor                   Ch. 248

(4)  THE FUNDS AVAILABLE TO THE APPLICANT WITHOUT
FINANCIAL ASSISTANCE FROM THE DEPARTMENT;

(5)  THE AMOUNT OF FINANCIAL ASSISTANCE SOUGHT FROM
THE DEPARTMENT;

(6)  EVIDENCE OF THE INABILITY OF THE APPLICANT TO
OBTAIN THE FINANCING NECESSARY FOR THE FACILITY ON REASONABLE
TERMS THROUGH NORMAL LENDING CHANNELS, INCLUDING DOCUMENTATION
THAT THE APPLICANT FOR A DIRECT LOAN HAS APPLIED FOR AND BEEN
DENIED A LOAN BY 2 FINANCIAL INSTITUTIONS;

(7)  INFORMATION THAT RELATES TO THE FINANCIAL STATUS
OF THE APPLICANT, INCLUDING, IF APPLICABLE:

(I)  A CURRENT BALANCE SHEET;

(II)  A PROFIT AND LOSS STATEMENT; AND

(III)  CREDIT REFERENCES; AND

(8)  EVIDENCE THAT THE LOAN APPLICANT OWNS OR HAS AN
OPTION TO PURCHASE THE CHILD CARE FACILITY, SUCH AS A DEED OF
TITLE, A MORTGAGE LIEN, AND OR A FINANCING STATEMENT; AND

(8) (9) ANY OTHER RELEVANT INFORMATION THAT THE
DEPARTMENT REQUESTS.

6-2A-10.

(A)  EXCEPT AS PROVIDED IN THIS SUBTITLE, THE DEPARTMENT MAY
SET THE TERMS AND CONDITIONS FOR DIRECT LOANS.

(B)  IF THE DEPARTMENT DECIDES TO LEND MONEY TO AN
APPLICANT, THE DEPARTMENT SHALL PREPARE LOAN DOCUMENTS.

(C)  THE LOAN DOCUMENTS SHALL INCLUDE:

(1)  THE RATE OF INTEREST ON THE LOAN;

(2)  THE AMOUNT OF THE LOAN;

(3)  A REQUIREMENT THAT BEFORE EACH DISBURSEMENT OF
LOAN PROCEEDS IS RELEASED TO THE APPLICANT, THE APPLICANT AND THE
DEPARTMENT COSIGN THE REQUEST FOR THE FUNDS;

(4)  PROVISIONS FOR REPAYMENT OF THE LOAN; AND

(5)  ANY OTHER PROVISIONS THAT THE DEPARTMENT
DETERMINES ARE NECESSARY TO SECURE THE LOAN, INCLUDING THE TAKING
OF LIENS AND SECURITY INTERESTS IN REAL AND PERSONAL PROPERTY.

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