Compilation of Rules and Regulations of the State of Georgia
Department 110 - RULES OF GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS
Chapter 110-18 - APPALACHIAN REGIONAL COMMISSION BUSINESS DEVELOPMENT REVOLVING LOAN FUND
Subject 110-18-1 - APPALACHIAN REGIONAL COMMISSION BUSINESS DEVELOPMENT REVOLVING LOAN FUND
Rule 110-18-1-.05 - Review of Applications

(1) The applicant must have a project approved by the RLF loan committee. (The RLF loan committee is appointed by the department in compliance with the Code, Guidelines, and Plan and Policies.) In addition, the applicant must be willing to enter into a loan agreement with the department and the eligible subrecipient. The loan agreement will be in a form specified by the department.

(2) Projects from subrecipients will be reviewed by the RLF loan committee and department staff based upon enhancement of economic development opportunities, including but not limited to, ability of subrecipients to repay loan proceeds, numbers of jobs retained and/or created; total private capital investment; degree of bank commitment; consistency with local and regional development goals and objectives; reasonableness of cost estimates, and other criteria specified in the Plan and Policies.

(3) In its review of applications, the department may, at its discretion, consult with other individuals or agencies as appropriate for the purpose of receiving advice.

(4) The criteria in this rule (110-18-1-.05) are designed to assist the department in making its decision. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals and depending on the availability of funding at the time of application. The decision that the department makes shall be final and conclusive.