Significant financial contributions definition
Significant financial contributions means the expenditure of an applicant’s monetary resources toward the real or personal property purchased with the loan in an amount large enough relative to the loan request to indicate a sincere interest in the purpose of the loan. In judging the significance of financial contributions, the Rural Rehabilitation Loan Committee shall consider, among other factors, the total amount of the loan request, the financial resources of the applicant, and industry standards and expectations. For purposes of this definition, a contribution of one hundred dollars ($100.00) or less shall never be significant and a contribution of ten thousand dollars ($10,000.00) or more shall always be significant.