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3$ <br />ORANGE COUNTY SMALL BUSINESS LOAN PROGRAM <br />PURPOSE <br />The purpose of this program is to stimulate the creation of good <br />jobs for Orange County citizens as well as to stimulate <br />successful business development and e~cpansion in Orange County. <br />The program will attempt to assist businesses that have limited <br />access to financing through conventional means or other <br />government guaranteed sponsored programs. Businesses receiving <br />funding through this program are strongly encouraged to be good <br />corporate citizens as defined in Orange County's Economic <br />Development Strategic Plan. Businesses are also encouraged to <br />employ Orange County citizens. <br />AMOUNT <br />Initial 3-year loan capacity of up to $500,000, funded by <br />commitments from local financial institutions. <br />COMMITMENT PERIOD <br />Three years from the date of execution of the master loan <br />agreement. After three (3) years, the loan program will be <br />reviewed by the Board of County Commissioners and participating <br />financial institutions to determine: whether to continue the <br />program. <br />ELIGIBILITY <br />1. All applicants must be residents pf Orange County. In the <br />case of non natural arson a licants at least 51~ of the <br />members artners or owners of shares of stock of the <br />a liaant must be natural arsons who are Oran a Count <br />residents. Length of residence in Orange County may be <br />considered in assessing the applicant's degree of <br />commitment to the community. <br />1 <br />