Minority Financial Incentives >> Minority Business Bonding Program

Selection Criteria

The Minority Development Financing Advisory Board will:

• Weigh financial viability (history of profits on a majority of contracts is expected), capacity to perform, and collateral
• Expect current ratios of at least .98:1 and debt ratios of less than 5:1
• Evaluate applicant's banking relationships
• Evaluate whether the applicant has demonstrated ability to compete in the private sector
• Consider the job generation potential of the project and/or applicant
• Consider the positive impact to the state of granting the requested assistance to the applicant
• Not consider the application if the applicant submits inaccurate or incomplete information or submits financial statements that are not reliable
• Not consider the application if the applicant has filed a Chapter 7 or 11 bankruptcy in the last three years
  • Program Summary
  • Eligibility Requirements
  • Other Requirements
  • Fees
  • Selection Criteria
  • Application Procedure
  • Application Package (pdf)