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§ 8078.5. Loan Enrollment.

4 CA ADC § 8078.5Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 11. California Pollution Control Financing Authority (Refs & Annos)
Article 7. Capital Access Program for Small Businesses
4 CCR § 8078.5
§ 8078.5. Loan Enrollment.
(a) A Participating Financial Institution may enroll all or any portion of a Qualified Loan by submitting an EVCS Loan Enrollment Application which shall include the following information:
(1) The official business name of the Borrower, which includes the Borrower's legal name and the name by which the Borrower does business, if any, and the business address.
(2) The name and title of the individual(s) responsible for signing for the Qualified Loan on behalf of the Borrower.
(3) Brief description of the Borrower's business and regular activities, either the SIC Code(s) or the NAICS Code(s) applicable to such business, and the amount of its annual revenues over the last three years.
(4) Brief summary of the intended use of the proceeds of the Qualified Loan consistent with uses permitted as Eligible Project Costs.
(5) Location(s) of the project(s) to be installed.
(6) Amount of the Qualified Loan being enrolled (and indication if less than the full amount of the Qualified Loan is being enrolled) and the Participating Financial Institution loan number.
(7) Type of the Qualified Loan (e.g., secured, unsecured, term loan).
(8) Date of the Qualified Loan.
(9) Interest rate applicable to the Qualified Loan.
(10) Term or maturity date of the Qualified Loan.
(11) Whether the loan is for the installation of EVCS in a Disadvantaged Community.
(12) Whether the loan is for the installation of EVCS at a Multi-Unit Dwelling.
(13) Number of persons currently employed by the Borrower, and number of jobs expected to be created and retained by the Qualified Loan.
(14) The Participating Financial Institution's certification that the loan is a Qualified Loan, and that the business receiving the Qualified Loan is a Qualified Business.
(15) The Participating Financial Institution's certification that, upon request of the Executive Director, the Participating Financial Institution will provide information from the financial records of the Borrower, and that the Participating Financial Institution has obtained the consent of the Borrower to such disclosure.
(16) The certification that the Participating Financial Institution has obtained a written representation from the Borrower that the Borrower has no legal, beneficial or equitable interest in the Contribution.
(17) The Participating Financial Institution's certification that the total amount of loans enrolled by the Borrower in the Program does not exceed $500,000.
(18) The Participating Financial Institution's certification that the Borrower has secured or made application for all applicable licenses or permits needed to install and operate the EVCS.
(19) Acknowledgment that the lending activities of the Participating Financial Institution are subject to any applicable safety and soundness standards as set forth in applicable lending regulations.
(20) The Participating Financial Institution shall be authorized to base the information requested by subsections (14) and (18) above upon representations made to it by the Borrower; provided that no such Borrower representation may be relied upon if it is known to be false by the lending officer(s) at the Participating Financial Institution who are directly involved in the negotiation of the Qualified Loan.
(21) Certification from the Participating Financial Institution that it has not, and will not, enroll the same loan or portion thereof in any other government program substantially similar to the Program.
(22) The submittal of a completed Borrower's Eligibility Criteria and Self-Certification form in which the Borrower certifies to the following:
(A) That it satisfies the definitions in Sections 8078.3(e), 8078.3(f), 8078.3(i), and 8078.3(j) of the EVCS Financing Program Regulations;
(B) The EVCS installation is compliant with Section 8078.3(c) or 8078.3(g) of the EVCS Program Regulations, if applicable;
(C) The EVCS installation is located within the boundaries of the State of California;
(D) The Borrower has legal control of the EVCS installation site for a term that is equal to or greater than the length of the enrolled loan, and assumes financial liability of the loan;
(E) The Borrower agrees to allow the participating financial institution to provide information from financial records of the Borrower upon request of the Executive Director of CPCFA;
(F) The Borrower has no legal, beneficial, or equitable interest in the Contribution;
(G) If the EVCS installation financed through this Program is a part of a larger construction project carried out by the Borrower, the enrolled amount of the loan in this Program is the portion of costs of the total project as reasonably allocated to the installation and operation of the EVCS, as documented by the master contractor and/or installer of the EVCS;
(H) The Borrower has secured or made application for all applicable licenses or permits needed to install and operate the EVCS to be procured with the Qualified Loan;
(I) The Borrower agrees to allow California Energy Commission staff or its designee to inspect the EVCS and EVCS installation site;
(J) The Borrower acknowledges awareness of potential regulations from the California Department of Food and Agriculture, Division of Measurement Standards, governing the retail sale of electricity from EVCS. Once effective, installed EVCS may be required to adhere to adopted regulation requirements; and
(K) The Borrower is aware of the Borrower Rebate if it complies with Section 8078.7 of the EVCS Financing Regulations.
(23) Certification from the Participating Financial Institution that it has provided the Borrower CPCFA's Privacy Notice for the EVCS Financing Program, which provides the notice required under the California Information Practices Act (CIPA) (Civil Code section 1798.17). The Privacy Notice for the EVCS Financing Program informs the Borrower that personal information protected by the CIPA may be disclosed under the following circumstances:
(A) To consultants, auditors or contractors retained by the CPCFA where disclosure is required to fulfill CalCAP program requirements and subject to a nondisclosure agreement;
(B) To another governmental entity where required by state or federal law; or
(C) As otherwise required by law.
Information related to this loan not including personally identifying information may be disclosed to the California Energy Commission for statistical reporting.
(b) Upon enrollment of a Qualified Loan, CPCFA shall direct the Trustee to transfer a Contribution for deposit in the Participating Financial Institution's established Loan Loss Reserve Account, and the Trustee shall notify the Participating Financial Institution of the transfer.
(c) The Contribution for each Qualified Loan shall be calculated as follows:
(1) All Qualified Loans shall receive a Contribution in the amount of 20 percent of the enrolled loan amount.
(2) All Qualified Loans that support installation of Electric Vehicle Charging Stations in Disadvantaged Communities or in a Multi-Unit Dwelling shall receive an additional Contribution in the amount of 10 percent of the enrolled loan amount (total Contribution of 30 percent).
(d) Without regard to the terms of the loan, the term of enrollment in the Program shall not exceed forty-eight (48) months from the date of first disbursement of the Qualified Loan.

Credits

Note: Authority cited: Sections 44520, 44559.5(f) and 44559.11(b), Health and Safety Code. Reference: Sections 44559.2, 44559.4 and 44559.11, Health and Safety Code; and Section 1798.17, Civil Code.
History
1. New section filed 3-30-2015 as an emergency; operative 3-30-2015 (Register 2015, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2015 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 3-30-2015 order, including amendment of subsection (a)(20), transmitted to OAL 9-21-2015 and filed 11-2-2015; amendments operative 11-2-2015 pursuant to Government Code section 11343.4(b)(3) (Register 2015, No. 45).
3. Amendment of subsections (a)(1) and (a)(22)(F) and amendment of Note filed 8-7-2017 as an emergency; operative 8-7-2017 pursuant to Health and Safety Code section 44520(b) (Register 2017, No. 32). A Certificate of Compliance must be transmitted to OAL by 2-5-2018 or emergency language will be repealed by operation of law on the following day, pursuant to Health and Safety Code section 44520(b).
4. Certificate of Compliance as to 8-7-2017 order transmitted to OAL 1-31-2018 and filed 3-15-2018 (Register 2018, No. 11).
This database is current through 7/5/24 Register 2024, No. 27.
Cal. Admin. Code tit. 4, § 8078.5, 4 CA ADC § 8078.5
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