South Dakota Administrative Rules
Title 68 - Tourism and State Development
Article 68:01 - Economic development finance authority
Chapter 68:01:02 - APEX loan program
Section 68:01:02:12 - Review of financial status

After the loan is approved by the authority and the USDA RD but before the loan agreement is entered into, the authority or the GOED may conduct an overall review of the applicant's financial status. This review may include an analysis of all assets and liabilities and an analysis of the ability of the business to service and honor the loan commitments. If the applicant's financial condition has materially changed since the approval of the loan, the authority may disapprove the loan or seek modification of loan amounts and equity contributions.

General Authority: SDCL 1-16B-14(4).

Law Implemented: SDCL 1-16B-37, 1-16B-44, 1-16B-46.