A borrower change requires a material-change assessment against the pending petition and applicable project-filing rules. Continuing to have money at risk and a job forecast does not alone resolve that question. Have counsel compare the old and new facts, the timing and any required amended or new filings before relying on the substituted structure.
Testing the amended structure against the filed petition
Work through it item by item: same new commercial enterprise, same qualifying amount of US$1,050,000 or US$800,000 as filed, same economic activity generating your ten jobs. Where the replacement borrower operates a different business, the job model behind your allocation may need re-examination. Your continuing engagement — day-to-day management or policy formulation — should also still match the governing documents.
Investors tend to fix on the money and treat everything else as administration, which reverses the order in which these petitions fail.
Ask for the designation record rather than the brochure's assertion, and have counsel confirm the current statutory amounts before relying on the lower figure.