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(a) To apply for a rural development initiative fund loan, an applicant shall file with the department
(1) a completed loan application for a rural development initiative fund loan, on a form provided by the department, which includes:
(A) a letter of intent stating the amount requested and intended use of the proposed loan money;
(B) a schedule of acceptable collateral;
(C) an individual financial statement;
(D) a statement of projected income and expenses for the following year's operating plan;
(E) a signed credit authorization; and
(F) a consent to release information;
(2) copies of the applicants' federal income tax returns for the preceding three years, and for additional years if requested by the department;
(3) a $100 nonrefundable application fee; and
(4) any other information that might be helpful to demonstrate the eligibility of the applicant for a loan, as requested by the department.
(b) The department may process loan requests without the information described in (a) of this section if the department determines that the information is not necessary for making the lending decision.
History: Eff. 2/8/2001, Register 158
Authority: AS 44.88.600
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Last modified 7/05/2006