Loan decision, closing, and fees.

CFR · 2024-01-01 · US · Title 7

(a) (i) The loan can be repaid; (ii) The proposed use of loan funds is authorized; (iii) The applicant has been determined eligible; (iv) All security requirements have been, or will be met at closing; (vi) All other pertinent requirements have been, or will be met at closing. (2) The Agency will place conditions upon loan approval as necessary to protect its interest. (b) (2) There must have been no significant changes in the plan of operation or the applicant's financial condition since the loan was approved; and (2) The applicant will execute all loan instruments and legal documents required by the Agency to evidence the debt, perfect the required security interest in property securing the loan, and protect the Government's interests, in accordance with applicable State and Federal laws. In the case of an entity applicant, all officers or partners and any board members also will be required to execute the promissory notes as individuals. (c)

official document · source cfr-2024 · id 7:§ 773.21