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Atvm Loan Is Not Completely Dead

Ty

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ATVM Loan

It looks like Elio could make it in this if they can prove they can make a profit, show that the Elio will get at least 25% better than a 2005 model, and ... the tricky part... be positive financially... tough for a new company, I'd think.
 

Len

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ATVM Loan

It looks like Elio could make it in this if they can prove they can make a profit, show that the Elio will get at least 25% better than a 2005 model, and ... the tricky part... be positive financially... tough for a new company, I'd think.

One of the requirements is that the loan demander must be financially viable without the loan.
 

RSchneider

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Elio will soon be a 10 year old company. They got the milestone of 65K reservations over 3 years ago. Is that considered new?

Then this might not help:
Financial statements for the past three years, or less if the applicant has been in operation less than three years, that have been audited by an independent certified public accountant. Include all associated notes, as well as interim financial statements and notes for the current fiscal year, of the applicant and parties providing the applicant’s financial backing.Also include business and financial interests of controlling or commonly controlled organizations or persons,including parent, subsidiary and other affiliated corporations or partners of the applicant

Then this:
An analysis demonstrating that, at the time of the application, the applicant is financially viable without receipt of additional Federal funding associated with the proposed project, and that there is a reasonable prospect that the applicant will be able to make payments of principal and interest on the loan as and when such payments become due under the terms of the loan documents;and that the applicant has a net present value (NPV) which is positive, taking all costs,existing and future, into account. For publicly traded companies, this information must include relevant filings with the U.S. Securities and Exchange Commission.

If the DOE would just ignore the financials, then the 84 mpg mileage would get them in. Plus Elio stopped making SEC filings as a publicly traded company.
 

Samuel Gompers

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Elio was never a good fit with the ATVM program. It was meant to help existing, viable businesses to expand. It was never meant for startups with no existing product. If Elio had been profitable, selling 50-60mpg trikes, and gone to the ATVM for help with their upgraded 75-84mpg trike, they might have had a shot at getting funding. By the time Elio went looking for money, the previous loan failures made the ATVM nervous about new loans.
 

Elio Amazed

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One of the requirements is that the loan demander must be financially viable without the loan.
NO. For the 10,000th time. THAT IS NOT WHAT THE LANGUAGE SAYS. The language says that the borrower must show that they will be financially viable AFTER receiving the loan without any FURTHER or ADDITIONAL government assistance other than the loan itself. Look it up and read it again.
 
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Ty

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One of the requirements is that the loan demander must be financially viable without the loan.
They are. What that means is that the company, when producing vehicles, must not run in the red. Tesla would not qualify because they continually lose money. Elio, as shown by their bill of materials, sales price, and overhead, would be financially viable. But, that's because they put less material into each vehicle and it's easier to assemble and the material that make up the Elio are less expensive.
 

booboo

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