To finance the project, the Kaiser-Frazer Corporation received a federal government loan in 1949. This financing specified various particulars of the vehicle. Kaiser-Frazer would commit to design a vehicle that in its base form retailed (including federal tax and retail delivery preparation charge) for no more than $1,300.00 (US$ in dollars). It was to seat at least five adults, be capable of going at least for sustained periods of time, and available for retail sale no later than September 30, 1950.