or applicant may individually or jointly request mediation or an appeal hearing by the National Appeals Staff within 30 days provided the request is in writing. The requestor and State Director are notified of the decision by the Hearing Officer. Renewals: Not applicable. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: Matching funds are not required. For existing businesses, applicants are required to provide a minimum of 10 percent tangible balance sheet equity for guaranteed loans. For new businesses, at least 20 percent is required for guaranteed loans. For direct loans, new businesses and those businesses which cannot offer personal or corporate guarantees, or for energy- related businesses, 20-25 percent equity is required. Feasibility studies are normally required. Exceptions to the feasibility study requirement may be made to businesses with adequate financial history. Length and Time Phasing of Assistance: The letter of conditions for the direct loan and the Conditional Commitment for the guaranteed loan specifies the time limit for the use of funds. The Loan Note Guarantee for a guaranteed loan will be issued when all of the requirements of the Conditional Commitment have been or will be met. POST ASSISTANCE REQUIREMENTS: 79 Reports: Each guaranteed lender will be required to monitor and report to RBS on actual performance during the construction of each project financed,
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