Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart D - Minority Lending
Chapter 81 - MINORITY BUSINESS DEVELOPMENT AUTHORITY
Subchapter B - LOAN PROGRAM ADMINISTRATION
LOAN PAYMENT, REPAYMENT, PENALTIES AND ADMINISTRATION
Section 81.144 - Loan closing

The Authority will allow a 90-day period from the date of the commitment letter for borrowers to meet the conditions and requirements of the commitment letter for closing. One 90-day extension may be granted by the Executive Director beyond this period and will be reported to the Board at its next meeting following the action with an explanation of the extension.

The provisions of this §81.144 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P.S. § 390.9).