Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 312 - INTERMEDIARY RELENDING PROGRAM
Section 457-312-5 - Application Procedure and Content

Universal Citation: 94 ME Code Rules ยง 457-312-5

Current through 2024-13, March 27, 2024

A. Each Borrower shall submit an application to the chief executive officer on such forms and with such attachments as the chief executive officer may require consistent with the purposes of the program and this rule. An application shall contain, at a minimum, such general information identifying and describing the Borrower, the proposed project, and the proposed financing of the project as specified in the application form, Form FmHA 1940 - 20, Request for Environmental Information and such other information as requested by the chief executive officer.

B. The chief executive officer will review each application for completeness and eligibility. Applications which are not substantially complete may be deemed not received until completed. The chief executive officer shall determine when an application is received, which determination shall be final.

C. Upon approval, the chief executive officer shall submit the application and all supporting material requested to the FmHA. The Authority may issue a commitment of loan funds to a Borrower conditioned on receipt of an affirmative decision to proceed with the loan by the FmHA. No loan funds may be disbursed without the affirmative decision of the FmHA.

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