Minnesota Administrative Rules

1580.0600 CRITERIA FOR APPROVAL OF ELIGIBLE FINANCIAL ASSISTANCE.

In determining whether to approve or deny an application for a loan guarantee or a loan from bond proceeds, the board shall consider the following criteria:

A.

the extent to which the project will further the development of the state's agricultural resources and improve the market for its agricultural products;

B.

the extent to which the public financial assistance sought by the applicant under the program would provide the project with an unfair advantage in competing with other products produced or processed in Minnesota;

C.

the viability of the project, including economic and commercial feasibility, technical feasibility, financial projections, and managerial capability;

D.

conformity of the project to environmental standards;

E.

the qualifications and credit history of the owners, operators, and lenders;

F.

the nature and extent of the security;

G.

the degree of financial participation by private persons not supported by the loan guarantee or bonds;

H.

the availability of the board's bonding authority, proceeds, and money from other sources to support the guarantee; and

I.

the market conditions and terms required for the sale of any bonds or loan guarantee.

Statutory Authority:

MS s 41A.04

History:

11 SR 713

Published Electronically:

September 10, 2007