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• Brooklyn Park Development Fund Limited Partnership Small Business Loan Program Policy Guidelines 1 . The Partnership's economic assistance will be limited to (i) making loans to target projects to the extent qualifying project costs are not covered by a loan from a qualifying lending institution (i.e. , the Partnership will loan an amount equal to the shortfall or "gap" between the amount of the loan received from the lending institution and applicant's projected project cost) or (ii) guarantying the "gap" if such is funded by a loan from a lending institution. 2. Qualifying project costs include costs associated with (i) operating a target project or (ii) rehabilitating a target project. 3. Target projects are limited to (i) industrial, commercial or business concerns located in the City of Brooklyn Park, Minnesota (the "City") or (ii) projects located in the-City which will create or retain jobs for residents of the City. 4. Qualifying lending institutions are limited to federal or state chartered lending institutions which have a physical facility located in the City. 5. Partnership loans/guarantees must be secured. 6. The underlying loan from the lending institution will be processed by the lending institution and must be approved by the lending institution before the Partnership's participation will be considered. 7. Partnership will receive a processing fee from the applicant (if funded) . 8. The Guaranty/Loan Limits are indicated below: Loan Amount Guaranty Amount $0 - $49,999 Up to 50% of the loan, not to exceed $12,500 total, whichever is less $50,000 and Above Up to 25% of the loan, not to exceed $25,000 9. At all times loans will comply with the laws of the State. Comprehensive Plan and Zoning 10. The projects must be in accord with the Com p Ordinances of the City. If not, the Partnership loans/guarantees may be approved if there is evidence that changes to applicable plans and ordinances GPW64424