MBLF General Policies:

1. All persons requesting assistance will receive fair and equal consideration regardless of their sex, age, national origin or ethnic heritage, race, religion, disability, or familial status.
2. No more than one active loan will be made to a business. This policy does not preclude rewriting a loan to accommodate new or imposed changes experienced by a borrower. Multiple loans may be made at the board's discretion, when it is in the best interest of the City and the MBLF.
3. Prior to application to the MBLF, applicants are expected to access technical assistance to develop a business plan in order to foster the best chances for the business' success and to protect the MBLF's interest in repayment.
4. Loans which have no prospect of repayment will not be made.
5. Every effort will be made to collect delinquent loans. All security agreements will be enforced to the fullest extent of the law.
6. Loans will be in default if the business moves any substantial portion of its operation (25% of assets, jobs, or inventory) out of the Designated Downtown District.
7. Loans will also be subject to immediate review and possible termination if the business:
   • fails to complete the financed activities within the time frame specified in the loan agreements;
   • violates any other condition of the loan documents;
   • uses loan funds for anything other than the specified business and the approved loan activities;
   • becomes delinquent on any taxes;
   • is operating illegally;
   • is delinquent on its loan payments (unless arrangements for deferral have been agreed to in writing by the MBLF);
   • is in persistent violation of State and local building codes, ordinances, and regulations;
   • fails to obtain the necessary permits for the project;
   • fails to document employment goals; or
   • is sold or otherwise conveyed.
8. Applicants must guarantee that they will not discriminate on the basis of sex, age, national origin or ethnic heritage, race, religion, disability, or familial status in hiring or otherwise conducting business.
9. Loans will not be made to members of the Loan Committee or any members of their immediate families during their tenure.