R51-5-4. Loan Application

  (1) Loan requests shall be accepted and processed from eligible Applicants regardless of race, age, sex, creed, color, religion, national origin, or on any other basis prohibited by law.

  (2) A request for a loan must be in writing as required on the forms provided by the Department.

  (3) The Executive Loan Committee and Board requires a minimum of 90 days to process, approve and close a loan.

  (4) A request for a loan may be filed at any time during the program year.

  (5) Approval of loan shall be subject to availability of funds. The loan staff shall impartially consider each loan application on the basis of program objectives and priorities set in place and approved by the Executive Loan Committee and Board.

  (6) Use of loan money in conjunction with federal funds is encouraged. Applicants should apply for available federal (Farm Service Agency) or other cost-share assistance.

  (7) The Department, through the Executive Loan Committee and/or Board and in conjunction with the Commissioner, may adopt additional policies and procedures as necessary to carry out the purposes of the Rural Rehabilitation Loan program. These policies and procedures may be in addition to those outlined in this Rule.