The application process for loans under this chapter is as follows:

1. (1) The applicant shall apply to an eligible lender for a participation loan for the project;
2. (2) The applicant must use the application form provided by the office. The lender may require the applicant to use the lender's application form in addition;
3. (3) The applicant shall provide any necessary additional office application documentation as mutually agreed upon and requested by the lender and the administrator;
4. (4) The lender shall submit the application form and required application documentation to the office;
5. (5) If applying for a direct or bridge loan, the documentation and application will be submitted by the applicant directly to the office.

Source: 17 SDR 141, effective March 25, 1991; 38 SDR 45, effective September 22, 2011; 45 SDR 31, effective September 13, 2018; SL 2019, ch 235, § 37 and 38, effective April 14, 2019.

General Authority: SDCL 1 -53-30 .

Law Implemented: SDCL 1-53-24, 1-53-29 .

Prior versions effective: 2018-09-13, 2011-09-22.