Ill. Admin. Code tit. 92, § 5.120 – Review of Loan Application | Midpage
§ 5.120
Ill. Admin. Code tit. 92, § 5.120
Review of Loan Application
AUTHORITY: Implementing Section 2705-610, and authorized by Section 2705-610(c), of the Department of Transportation Law of the Civil Administrative Code of Illinois [20 ILCS 2705/2705-610].DEPARTMENT OF TRANSPORTATION SUBCHAPTER a: GENERAL
a) Applications will be evaluated by the Committee. The Committee will review and rank the applications based upon assessment of need, total budget of applicant, DBE participation, and information provided in the loan application.
b) After the Committee's review and ranking of approved applications, loan dollar amounts will be assigned to the loan applications up to the maximum amount of funding available for loans under this Part.
c) The Committee will perform due diligence to ensure that approved loans do not exceed appropriated funds.