SSBCI Reporting Clause Samples
The SSBCI Reporting clause requires parties to provide specific reports or disclosures related to the State Small Business Credit Initiative (SSBCI). Typically, this involves submitting periodic updates on the use of SSBCI funds, compliance with program requirements, and performance metrics such as job creation or retention. By mandating regular and standardized reporting, this clause ensures transparency, accountability, and proper oversight of SSBCI-related activities.
SSBCI Reporting. The Borrower shall cooperate with the Lender, the MSF, the MEDC, and any of their representatives, and provide the information described in Appendix B, Sections B.3 and B.10 to the Lender and any other information required from time to time by the MSF related to this Participation Agreement.
SSBCI Reporting. The Borrower shall cooperate with the Lender, the MSF, the MEDC, and any of their representatives, and provide information necessary for the MSF, to provide reports and any other information required from time to time under the SSBCI, including any rules, guidelines and regulations which may be promulgated, or amended from time to time, including without limitation, no later than February 15 following each calendar year in which any part of the Loan was made (and at such other times as requested by the MSF for it to comply with US Department of Treasury and SSBCI requirements), the Lender shall provide the MSF with the following information for each such Loan, in such form as the MSF or the US Department of Treasury may from time to time prescribe: The census tract and zip code of the Borrower’s principal location in the State of Michigan; The Borrower’s Employer Identification Number (EIN); The total principal amount of each such Loan loaned/authorized as a line of credit, and of that amount, the portion that is from non-private sources; The date of the initial disbursement of the Loan; The insurance premiums paid by the Borrower, the Lender and the MSF; The Borrower’s annual revenues in its last fiscal year; The Borrower’s Full Time Equivalent employees; The 6-digit North American Industry Classification System (NAICS) code for the Borrower’s industry; The year the Borrower was incorporated or, as applicable, organized; The estimated number of jobs created or retained as a result of the Loan; The amount of additional private financing occurring for or on behalf of the Borrower after the closing of the Loan; and As may be requested by the Lender or the MSF from time to time, any other information from time to time required by the MSF or under the SSBCI, including any rules, guidelines and regulations, which may be promulgated or amended thereunder. ___________________________ (Signature of Authorized Representative) ___________________________ (Printed Name Authorized Representative) ___________________________ ( Title of Authorized Representative) Date: ______________________
SSBCI Reporting. The Lender shall cooperate with the MSF, the MEDC, and any of their representatives, to provide information necessary for the MSF to ensure effective administration of the program by providing the MSF no later than January 31 of each year through the termination of this Participation Agreement with the following information for each such Loan, in such form as the from time to time prescribe:
(a) the census tract and zip code of the Borrower’s principal location in the State of Michigan;
(b) the Lender’s Employer Identification Number (EIN);
(c) the Lender’s Regulatory Identification Number;
(d) the total principal amount of each such Loan loaned/authorized as a line of credit, and of that amount, the portion that is from non-private sources;
(e) the date of the initial disbursement of the Loan;
(f) the Borrower’s annual revenues in its last fiscal year;
(g) the Borrower’s Full Time Equivalent employees;
(h) the Borrower’s Employer Identification Number (EIN);
(i) the 6-digit North American Industry Classification System (NAICS) code for the Borrower’s industry;
(j) the year the Borrower was incorporated or, as applicable, organized;
(k) the estimated number of jobs created or retained as a result of each Loan;
(l) the amount of additional private financing occurring for or on behalf of the Borrower after the closing of the Loan Documents; and
(m) any other information from time to time requested by the MSF.
SSBCI Reporting. The Lender shall cooperate with the MSF, the MEDC, and any of their representatives, to provide information necessary for the MSF to ensure effective administration of the program by providing the MSF no later than October 15 each year through the termination of this Deposit Agreement with the following information for each such Loan, in such form as the from time to time prescribe: the census tract and zip code of the Borrower’s principal location in the State of Michigan; the Lender’s Employer Identification Number (EIN); the total principal amount of each such Loan loaned/authorized as a line of credit, and of that amount, the portion that is from non-private sources; the date of the initial disbursement of the Loan; the Borrower’s annual revenues in its last fiscal year; the Borrower’s Full Time Equivalent employees; the 6-digit North American Industry Classification System (NAICS) code for the Borrower’s industry; the year the Borrower was incorporated or, as applicable, organized; the estimated number of jobs created or retained as a result of each Loan; the amount of additional private financing occurring for or on behalf of the Borrower after the closing of the Loan Documents; and any other information from time to time requested by the MSF.
SSBCI Reporting. The Lender shall cooperate with the MSF, the MEDC, and any of their representatives, to provide information necessary for the MSF to ensure effective administration of the program by providing the MSF, no later than October 15 each year through the termination of the Particiapation Agreement, with the following information for each such Loan, in such form as the MSF may from time to time prescribe: The census tract and zip code of the Borrower(s) principal location in the State of Michigan; The Lender’s Employer Identification Number (EIN); The total principal amount of each such Loan loaned/authorized as a line of credit, and of that amount, the portion that is from non-private sources; The date of the initial disbursement of the Loan;
SSBCI Reporting. The Lender shall cooperate with HGIA, HTDC, and any of their representatives, to provide information necessary for HGIA to ensure effective administration and reporting of the program to the U.S. Treasury, on a bi-annual basis or upon request, including but not limited to the following:
i. Borrower’s Loan Number;
ii. Date of Initial Loan Disbursement;
iii. Loan Status;
iv. Current Outstanding Loan Principal Balance;
v. Current Outstanding Original State Participation Balance;
vi. Additional Financing Provided to Borrower at closing or subsequent to closing;
vii. Delinquent Loan Data;
viii. Charge-off Data;
ix. any other information from time to time requested by HGIA or the US Treasury.
SSBCI Reporting. The Lender shall cooperate with the MSF, the MEDC, and any of their representatives, to provide information necessary for the MSF to ensure effective administration of the program by providing the MSF, no later than October 15 each year through the termination of the Particiapation Agreement, with the following information for each such Loan, in such form as the MSF may from time to time prescribe: The census tract and zip code of the Borrower(s) principal location in the State of Michigan; The Lender’s Employer Identification Number (EIN); The total principal amount of each such Loan loaned/authorized as a line of credit, and of that amount, the portion that is from non-private sources; The date of the initial disbursement of the Loan;