Regulations for Start-up Assistance for the Unemployed Under Employment Insurance Article 17

Where an applicant business or its responsible person is found to fall under any of the following circumstances, the loan shall not be approved. If a review result notification has already been issued, it may be revoked or annulled:1.Where an inquiry with the bill clearinghouse reveals that the loan applicant is subject to a sanction of denial of dealings, or that the number of dishonored cheques or promissory notes that remain unsettled has reached the threshold for such sanction.2.Where, upon inquiry with the Joint Credit Information Center or during the credit assessment process, it is discovered that the applicant has overdue principal not yet repaid, has failed to make scheduled installment payments for more than one month, has unpaid interest overdue by more than three months, or has overdue credit card payments resulting in forced card suspension by the issuing bank, and the overdue amount has not yet been settled.3.Where any documents or materials submitted in connection with the loan application are found to be concealed or false.4.Where they have any of the circumstances set forth in the preceding article with a member of the review committee, and their reliance is deemed unworthy of protection.5.Where the same business has previously received loans from the MOL in accordance with Directions of the Phoenix Micro-Enterprise Start-up Loan or Start-up Loan Regulations for the Unemployed Middle-Aged and Elderly Persons; provided, however, this restriction shall not apply if the prior loan has been fully repaid.6.Where the responsible person of the applicant business has previously obtained the Phoenix Micro-Enterprise Start-up Loan, the Start-up Loan for the Unemployed Middle-Aged and Elderly Persons, or this Loan from the MOL under another business, and such loan has not yet been fully repaid.