Bioelectronics Corp (BIEL)

[kidnova]

The maximum loan amount is $500,000, and the maximum term is 12 months. The maximum loan amount is calculated as the lesser of: 50% of the borrower's direct and indirect exports in the previous year; 90% of the borrower's net current assets as per their most recent financial statement; or $500,000. The loan amount can be drawn in full or in part at any time during the term of the loan, with a minimum drawing of $10,000. The loan can be renewed annually, but the borrower must again meet the approval criteria at the time of renewal, including the small business requirement.