Lender Certification
State Small Business Credit Initiative Lender Certification – Use of Proceeds:
This Assurance is referenced by Section 3005(e)(7) of the Small Business Jobs Act of 2010 and includes any financial institution lender that receives a loan, a loan guarantee, or other financial assistance using funds received by a Participating State under the Small Business Credit Initiative.
The Lender hereby certifies to the Participating State the following:
1. The loan has not been made in order to place under the protection of the approved state program prior debt that is not covered under the approved state program and that is or was owed by the borrower to the financial institution lender or to an affiliate of the financial institution lender.
2. The loan is not a refinancing of a loan previously made to that borrower by the financial institution lender or an affiliate of the financial institution lender.
