Board Consideration of Loan Guarantee Application

Sec. 58.054. BOARD CONSIDERATION OF LOAN GUARANTEE APPLICATION. After reviewing the material submitted under Section 58.053, the board shall consider the following factors in deciding whether to approve an application for a loan guarantee: (1) the anticipated benefits from granting a loan guarantee to the applicant, including both potential job creation and commercial benefits to the agricultural industry; (2) the applicant's qualifications; (3) the feasibility of the applicant's plan; and (4) other repayment sources available to the applicant. Added by Acts 1999, 76th Leg., ch. 1459, Sec. 14, eff. June 19, 1999.