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Esbfpgc 043020 v0.2 <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 /> <br />BUSINESS APPLICANTS ELIGIBILITY <br /> <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 /> <br />CORPORATE AND SOCIAL GOVERNANCE <br /> <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 />DocuSign Envelope ID: C4F39664-7944-4664-9058-F167CF63B0B0