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In its loan guarantee application, US Airways asked for the $900 million guarantee to help secure a $1 billion loan.
USEC, though, was invited to resubmit its loan guarantee application, which the company said it would do.
Second, the need to guarantee application level Quality of Service (QoS).
The government has insisted that UAL needs to secure deeper concessions from its unions and stakeholders before Washington will seriously consider the loan guarantee application.
Treasury Secretary John W. Snow said on Friday that no political pressure was involved in a loan guarantee application by United Airlines.
United, which based its original loan guarantee application on the assumption that a barrel of oil would cost about $25, instead was facing prices of $42 a barrel.
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(The rate that will be used for its Family Springboard deal and Help to Buy mortgage guarantee applications is higher at 7.49%.) In other words, the deal you are applying for might have an initial rate of 3% or 4% now, but the lender will want to know that you could afford payments if it were 6.74%.
"Ex-Im is processing more than 90 percent of its loan and guarantee applications without conducting a Congressionally required review of any serious adverse effects of the loan," a group of six senators, including Jim DeMint of South Carolina, Rand Paul of Kentucky and Tom Coburn of Oklahoma, wrote in February in a letter.
The department is under scrutiny by House Republicans after it arranged $528 million in loans to a California solar equipment maker, Solyndra, that went bankrupt; Republicans warned the department again Wednesday not to rush through the remaining loan guarantee applications before the program's deadline, Sept. 30.
This interdependence can be exploited, through cross-layer cooperation, to guarantee application-specific QoS constraints.
So far, the department has repeatedly turned down USEC's loan guarantee applications and told USEC to come back when the work was further along.
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