Examples of Guaranteed Loan in a sentence
The lender will pay off the balance of the existing Section 502 Guaranteed loan.
Guaranteed loan applications may be processed under this paragraph if the request does not exceed $400,000.
Eligible Activities Guaranteed loan funds may be used for the following activities, provided that said activities are designed to produce revenue.1. Acquisition of improved or unimproved real property in fee or by long-term lease, including acquisition for economic development activities.2. Rehabilitation of real property owned or acquired by the entity applicant, city or town or its designated public agency.3. Payment of interest on obligations guaranteed under the 108 Program.
Guaranteed loan funds cannot be used for the distribution or payment to a member of the immediate family of an owner, partner, stockholder, or member of the borrower except for a change in ownership of the business where the selling person does not retain an ownership interest and the Agency determines in writing the price paid to be reasonable based upon an independent appraisal.
Guaranteed loan applications that are awarded are required to fulfill the reporting requirements as specified in 7 CFR 4280.143.