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DocuSign Envelope ID:7CE4BFEF-729B-4888-8D95-16CA1 B643E6F <br /> 1. County Financial Scoring Matrices <br /> 2. Annual and Monthly Financial Statements from businesses software and Federal and <br /> State Tax Returns; up to Three Prior Years <br /> 3. CPA Prepared Financial Statements and Management Letter <br /> 4. Collateral information if applicable regarding and personal credit report <br /> BUSINESS APPLICANTS ELIGIBILITY <br /> 1. Business applicants must be located within Orange County in communities zoned <br /> appropriately. <br /> 2. Minimum of one-year in operation, hold applicable business privilege licenses and be <br /> registered with appropriate legal entities such as the North Carolina Secretary of State or <br /> Register of Deeds office. <br /> 3. Business applicants' duration of residence in Orange County may be considered in <br /> determining the applicant's commitment level to the County; and preference to Orange <br /> County residents during the loan review process. <br /> 4. Ineligible businesses include, but not limited to, companies involved in real estate <br /> investment, multi-level marketing, adult entertainment, or firearms. Companies with past <br /> due tax liabilities or tax liens or currently in bankruptcy (Corporate or Personal) are not <br /> eligible. <br /> 5. Business applicants must be for-profit business entities that can show profitability prior to <br /> the emergency and/or economic crisis. <br /> 6. Business applicants must be willing to contract for management and technical assistance <br /> if recommended by the Funding Committee. <br /> 7. Business applicants must have a minimum equity contribution of 10% (collateral includes <br /> such as residential parcels, machinery, rolling stock and equipment are eligible equity <br /> contributions). <br /> 8. Business applicants may be required to execute an Unconditional Guaranty Agreement <br /> for the full amount of the loan and additional Guarantors may be required by the Funding <br /> Committee. <br /> 9. Business applicants must submit certain financial and tax information to the County's <br /> Finance Department including Federal Tax ID, bank and financial institution account <br /> information including voided check for Automated Clearing House drafts to qualify for <br /> zero interest. <br /> CORPORATE AND SOCIAL GOVERNANCE <br /> Borrowers and Grant Recipients shall endeavor to meet the following conditions but in <br /> no case fail to meet at least one of the following conditions for at least one year: (a) Job <br /> Retention, within six months of the award retain at least 50% of the work force that existed on <br /> January 1, 2020 and retain 100% within one year of the award date; (b) Living Wage, pay 90% <br /> of Borrower's work force a living wage of$15 per hour; or (c) Community Participation and <br /> Involvement, in kind service, discounts or donation to first responders, healthcare and other <br /> front line workers in the amount of at least $250 annually for award recipients with net income of <br /> up to $100,000 and at least $500 annually for all others. Any value derived from discounts shall <br /> be the result of at least 15% off retail price. Determinations regarding qualifying recipients of in <br /> kind services or donations shall be at the sole discretion of the County. Borrower shall supply <br /> Esbfpgc 043020 v0.2 <br />