§3565.153. Experience and capacity of borrower.
7 C.F.R. § 3565.153
At the time of application, the lender must certify that the borrower:
Has the ability and experience to construct or rehabilitate multifamily housing that meets the requirements established by the Agency, the lender and the loan agreement;
Has the legal and financial capacity to meet all of the obligations of the loan; and
Has the ability and experience to meet the property management requirements established by the Agency, the lender, and the loan agreement.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Source
Source: 63 FR 39458, July 22, 1998, unless otherwise noted.