Experience and capacity of borrower
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
At the time of application, the lender must certify that the borrower:
(a) Has the ability and experience to construct or rehabilitate multifamily housing that meets the requirements established by the Agency, the lender and the loan agreement;
(b) Has the legal and financial capacity to meet all of the obligations of the loan; and
(c) Has the ability and experience to meet the property management requirements established by the Agency, the lender, and the loan agreement.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.