Conditions for guarantee

§ 9. Conditions for guarantee. In order for a loan to be guaranteed\nunder the provisions of this act, the loan to be guaranteed must be\nexecuted by a borrower to whom credit is not reasonably available, and\nin the case of a borrower undertaking a housing project, provide\nfinancing for the acquisition, construction, reconstruction or\nrehabilitation of housing accommodations for persons or families which\ncannot afford safe and sanitary housing accommodations provided by the\nunaided efforts of private enterprise.\n