Borrower

Borrower. In order to qualify for a loan under SED, the Borrower must meet the following requirements: A. The assistance must be requested by a private company located or to be located within the State which is an agricultural, aquacultural, horticultural, industrial, manufacturing, or research and development enterprise or enterprises, or the lessor of such enterprise (a “Qualified Project” or a “Project”); B. The Borrower must be able to demonstrate that the assistance will result in creation and maintenance of a minimum of ten (10) net new full-time equivalent jobs; C. The Borrower must meet the financing eligibility requirements then imposed by State and federal laws; The Borrower must have a viable and attainable business plan and the ability to timely repay the loan; D. The Borrower must meet the definition of “principal user and related parties” as set forth by the Internal Revenue Code of 1986; E. The Borrower may not have in excess of forty million dollars ($40,000,000) in tax- exempt bonds issued and outstanding for its benefit within the United States; F. The Borrower must certify, in a form satisfactory to MBFC, that it will not discriminate against any employee or any applicant for employment because of race, religion, color, national origin, sex, or age; and G. The Borrower must meet all other requirements set forth in the Act and the program guidelines.