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<br /> 2 <br />• Utility bill payments. <br />• Employee salaries. <br /> <br />STBIL – V. LOAN REVIEW <br /> <br />The Loan Committee shall review all information that will provide decision-making assistance as <br />to the adverse effect of COVID-19 on the business and to the amount of loan assistance <br />requested. Generally, the following criteria will be used in reviewing loan applications: <br /> <br />• Collateral coverage <br />• Job retention <br />• Credit worthiness of applicant <br />• Impact of COVID-19 on the business <br />• Up to date on City and County taxes <br /> <br />Upon final approval by the EDA, and City Council when required, the EDA will prepare a <br />Promissory Note, Security Agreement, and Mortgage. All fees related to document preparation, <br />legal fees, and recording fees are the responsibility of the borrower.