Or. Admin. R. 123-021-2700 – Application Decision

(1) The director or director’s designee will either approve or decline an application. Upon approval of an application, the Department will issue a Loan Insurance Authorization setting forth the terms and conditions upon which the loan will be insured.
(2) No Loan Insurance Authorization shall become effective until the Financial Institution has paid the initial loan insurance premium required by OAR 123-021-3600 and the Department and Financial Institution have entered into a Lender Agreement.
(3) If the director or the director’s designee declines an application, upon written request, the Department will provide the Financial Institution a notice that includes the reasons for declining the application. The notice shall include a notice of the Financial Institution’s opportunity to appeal the director’s or their designees’ decision to the Oregon Business Development Commission’s Finance Committee.

ORS 285A.075 & 285B.200 - 285B.218

ORS 285B.200 - 285B.218