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45 <br />3. At the monthly meeting, the Loan Committee will decide <br />whether or not to take action on the request, based on the <br />information provided. The applicant will be informed in <br />writing of the Loan Committee's decision to deny, ctrant, <br />grant with condition, or seek mare information. Should the <br />Loan Committee deny the applicant's application, the Loan <br />Committee will not thereafter consider any applications <br />from that applicant for at least six months. <br />4. At its discretion, the Loan Committee may impose any <br />additional terms and conditions necessary to improve the <br />loan or to secure the loan. The Loan Committee <br />~• m~y require an itemized budget detailing the proposed <br />use of loan funds. <br />5.~r- Should the applicant ~~ think that ~e~ the <br />application has been improperly denied, then <br />the applicant may notify, in writing, the ~~~e~~ke Loan <br />Committee e~ '~~ ~ "~~_ r-_-'~-___. The notice to the Loan <br />Committee shall state why the„aAtalicant thinks ,the•loan <br />should be annroved. Denial of the application shall then be <br />_~ _ __._c-_' ~.1. given further consideration by the Loan <br />Committee . f e~€~~~-eQ~-ire-~~re~r The Loan Cormni.ttee' s <br />decision on the loan is the final decision. <br />----~zt <br />~ <br />~ <br />-E <br />~ <br />- <br />~ <br />r <br />r ~ - <br />- <br />e <br />~err <br />e~ <br />~ee--appr~~•a~ <br />~~pp• <br />- <br />e_ <br />e~ <br />~ese~ <br />~e~e-~ <br />~ <br />~ <br />€ <br />E ~ <br />~ <br />~ <br />. <br />e <br />s•a- <br />~ <br />- <br />3~axe~;-a~~-de € e~ -~1 e~ ~e.e~ l <br />-- <br />_.._..:d~~e3~-a•~~re~e~f~~oa~~~rFrt - <br />..}_ ----------------' <br />6. The Loan Committee shall provide_reaular <br />arterl re arts to the Board of Count <br />loans that it,-has approved. Any,_, event of <br />loss shall be repa,rted to the Board of G <br />in writin and resented to the Board of <br />Commissioners at its next re lar meeting <br />event of default or loan loss, <br />PROPOSED STRUCTURE <br />fat least <br />;r Commissioners of <br />default or loan <br />runty Commissioners <br />County <br />~ following .the <br />Each bank participant will commit a -_--=_--_ _~ credit line on a <br />non-recourse basis to ___ ____ ~e~~,ed-•~~r~p•~e~~-s-te-~ega~ <br />the Orange County Small <br />Business Loan Pro ram Com an a non- rofit ca oration farmed <br />or to be formed to make and facilitate loans to small businesses <br />8 <br />