Financial Requirements
To be eligible for guarantees, the applicant, its parent company (if applicable), and any other participants having a significant financial or contractual interest in the proposed project will be required to submit U.S. GAAP-compliant, audited financial information. An applicant must demonstrate there are adequate resources available to meet the following requirements:
- Minimum of 12.5% equity funded or committed prior to Maritime Administration approval
- Positive working capital
- Long-term debt to equity ratio of 2:1 or less
- Maintain minimum net worth