Section 1836-C. Applications for loans

1.  Any  employee  ownership
  association may apply to a local  development  corporation  serving  the
  municipality  in  which  the eligible project is located for an employee
  ownership assistance loan  to  be  used  to  help  finance  an  eligible
  project.  Such  application  must  include  a written statement from the
  entity from which the project  is  being  acquired,  stating  that  such
  entity  consents  to  the  acquisition. The application shall include in
  detail:
    (a) the history and membership of the association;
    (b) the history and circumstances of the plant to be acquired;
    (c) financial and marketing projections  and  analyses  sufficient  to
  allow  the authority to evaluate the continued economic viability of the
  project;
    (d) estimate of the number of jobs to  be  saved  or  created  by  the
  project; and
    (e) total anticipated project cost.
    2.  The  application shall also include a detailed financial statement
  of funding partner participation in the project, which shall include:
    (a) the identity of all funding partners; and
    (b) the terms of the financing agreements with the  funding  partners,
  including  any repayment schedules and finance charges to be included in
  such agreements.