(1) The corporation may charge fees to help defray the operating expenses of its programs. The amount of fees shall be determined by the board.
(2) The total of loans, guarantees, direct loan originations for sale and insured
export transactions outstanding shall not be more than five times the balance of the
account. The board may elect to require a higher reserve.
(3)(a) The board shall adopt rules on the terms and limits for loans, guarantees,
and direct loan originations, but a loan guarantee or a direct loan origination shall
not exceed 90 percent of the transaction contract.
(b) In providing assistance, the board shall be guided by the statewide economic development
plan adopted by the department.
(c) The board shall explore the possibility of organizing Florida financial institutions
and international bank syndicates for the purpose of offering nonrecourse postexport
financing to Florida exporters.
(4) The board shall adopt rules to ensure that program participants graduate from
the program to private financing and that no applicant receives more than $500,000
of assistance over any 5-year period. On a case-by-case basis, the board may exempt applicants from this limitation if
the applicant demonstrates that he or she cannot secure financing from traditional
lending sources. The term “applicant,” as used in this subsection, means any individual corporate
officer or business owner regardless of whether the business name changes from application
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