The lender shall determine the premium
charges payable to the reserve fund by the lender and the borrower in
connection with a loan filed for enrollment. The premium paid by the
borrower may not be less than one percent (1%) or greater than three
and one-half percent (3.5%) of the amount of the loan. The premium
paid by the lender must be equal to the amount of the premium paid by
the borrower. The lender may recover the cost of the lender's premium
payment from the borrower in any manner on which the lender and
borrower agree. When enrolling a loan, the corporation must transfer
into the reserve fund from the account premium amounts determined
as follows:
(1)If the amount of a loan, plus the amount of loans previously
enrolled by the lender, is less than two million dollars
($2,000,000),
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The lender shall determine the premium
charges payable to the reserve fund by the lender and the borrower in
connection with a loan filed for enrollment. The premium paid by the
borrower may not be less than one percent (1%) or greater than three
and one-half percent (3.5%) of the amount of the loan. The premium
paid by the lender must be equal to the amount of the premium paid by
the borrower. The lender may recover the cost of the lender's premium
payment from the borrower in any manner on which the lender and
borrower agree. When enrolling a loan, the corporation must transfer
into the reserve fund from the account premium amounts determined
as follows:
(1) If the amount of a loan, plus the amount of loans previously
enrolled by the lender, is less than two million dollars
($2,000,000), the premium amount transferred must be equal to
one hundred fifty percent (150%) of the combined premiums paid
into the reserve fund by the borrower and the lender for each
enrolled loan.
(2) If, before the enrollment of the loan, the amount of loans
previously enrolled by the lender is equal to or greater than two
million dollars ($2,000,000), the premium amount transferred
must be equal to the combined premiums paid into the reserve
fund by the borrower and the lender for each enrolled loan.
(3) If the total amount of all loans previously enrolled by the
lender is less than two million dollars ($2,000,000), but the
enrollment of a loan will cause the total amount of all enrolled
loans made by the lender to exceed two million dollars
($2,000,000), the corporation shall transfer into the reserve fund
an amount equal to a percentage of the combined premiums paid
into the reserve fund by the lender and the borrower. The
percentage is determined as follows:
STEP ONE: Multiply by one hundred fifty (150) that part of the
loan that when added to the total amount of all loans previously
enrolled by the lender totals two million dollars ($2,000,000).
STEP TWO: Multiply the remaining balance of the loan by one
hundred (100).
STEP THREE: Add the STEP ONE product to the STEP TWO
product.
STEP FOUR: Divide the STEP THREE sum by the total
amount of the loan.
The corporation may transfer two (2) times the amount determined
under this section to the reserve fund if the borrower is a small
disadvantaged business under 13 CFR 124.1002. The corporation may
transfer three (3) times the amount determined under this section to the
reserve fund if the borrower is a high growth company with high skilled
jobs (as defined in IC 5-28-30-4). The corporation may transfer to the
reserve fund three (3) times the amount determined under this section
if the borrower is a child care facility. Unless money is paid out of the
reserve fund according to the specific terms of this chapter, all money
paid into the reserve account by the lender must remain in that account.