Decisions are made within 30 to 60 days from the time the complete application is submitted to the PL. Applicant may apply for renewal of line of credits as long as they remain eligible certification is current and they have a current transportation related contract. Renewals and increases in the line of credit are possible.
The maximum period of eligibility is 5 years. Statutory formulas are not applicable to this program. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program. Approved lines of credit are for one year terms with the possibility of renewal for four additional years. Cash reports are not applicable. Quarterly progress reports are made by the participating lenders and Small Business Transportation Resource Centers.
Expenditure reports are not applicable. Participating Lenders are required to monitor and report on line of credit loan status on a monthly and quarterly basis. DOT has the right to audit its accounts with the banks. All line of credit approvals will be maintained for 7 years and non-approvals will be maintained for 3 years. Follow NARA standards.
Clinton Dunn New Jersey Ave. Catalog for Federal Domestic Assistance. STLP application dated and signed; 3 years of business financial statements and taxes; 3 years of personal income taxes and current personal financial statement; current work-in-progress; cash flow projection to cover the length of the term of the loan one year ; current DBE or SBA certification; business formation information; company history; resume of key management; business and trade reference letters; and a copy of the signed transportation related contract s.
Telephone: This program is excluded form coverage under E. Applications are submitted directly to one several Participating Leaders PLs.
Lines of credit are serviced by approving PL. OSDBU staff will reveiw the application for completeness. This review can be within 5 business days. Decisions are made within 30 to 60 days from the time the complete application is submitted to the PL. Applicant may apply for renewal of line of credits as long as they remain eligible certification is current and they have a current transportation related contract.
Renewals and increases in the line of credit are possible. The maximun length in the program is 5 years. Lines of credit is for one year term with the possibility of renewal for four additional years based upon continued eligiblity. OSDBU maintains records of all applicant files, such as approvals, pending review, loan readiness, denials, etc.
All line of credit approvals will be maintained for 7 years and non-approvals will be maintained for 3 years.
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