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8 <br />in assessing the applicant's degree of commitment to the community. <br />Preference will be given to Orange County residents during the loan <br />review process. <br />3. Applicants must be for-profit business entities whose gross revenues -do <br />not exceed $3 million/year. <br />4. Applicants must be willing to contract for management and technical <br />assistance if determined to be necessary by the Loan Committee. <br />5. Applicants must have an equi-ty contribution in the business of at least <br />10%. <br />6. Ali owners of the business maybe required to execute an Unconditional <br />Guaranty Agreement for the full amoun# of the loan. Additional <br />Guarantors may be required by the Loan Committee. <br />7. Applicants with any natural person owner who has pending criminal <br />charges or who has been convicted of a crime and is still serving an <br />active prison sentence, is on probation or is on parole is not eligible for <br />an Orange County Small •Business Loan. <br />ELIGIBLE USES OF LOAN PROCEEDS <br />1. Working capital or operational funds. <br />2. Purchase of equipment, commercial-use vehicles, or machinery. <br />3. Improvement of owner-occupied commercial property. (Owner must <br />occupy 50% or more-of total space.) <br />4. Start-up funding. <br />5. Expansion of business services or products. <br />6. Acquisition of owner-occupied commercial real estate (7- year <br />maturation). <br />4 <br />