1. (1) Initial Review. The Agency shall review the Loan application to ensure that it is complete. The Agency shall inform the Applicant in writing of the acceptance of the application and the receipt of any information requested by the Agency

2. (2) Review Panel. The Review Panel shall review the applications and make a recommendation for approval based on the Scoring Rubric.

   1. (a) The Review Panel will be made up an odd number of at least three (3) individuals appointed by the Director. At least one (1) individual will be appointed by the Director from outside of the Agency.
   2. (b) The Review Panel will conduct business in accordance with T.C.A. §§ 8-44-101, et seq.
   3. (c) The Review Panel shall recommend the interest rate and repayment timeline for a Loan.
   4. (d) No member of the STORM Act Team within TEMA will be a member of the Review Panel.
3. (3) Final Approval. The Director has final approval authority of Loan Agreements.

Authority: T.C.A. §§ 4-5-201, et seq.; 58-2-103, et seq.; and 58-2-905. Administrative History: New rules filed October 30, 2025; effective January 28, 2026.