Home Table of Contents

003.19.7-3. Application for an ELP Loan.

AR ADC 003.19.7-3Arkansas Administrative CodeEffective: November 30, 2020

West's Arkansas Administrative Code
Title 003. Department of Commerce
Division 19. Economic Development Commission
Rule 7. Developmental Disabilities Provider Emergency Loan Program
Effective: November 30, 2020
Ark. Admin. Code 003.19.7-3
003.19.7-3. Application for an ELP Loan.
Currentness
A. To apply for an ELP loan, a Provider shall submit an application on a form prescribed by AEDC along with any required supporting documentation requested by AEDC.
B. AEDC shall evaluate each application and any supporting documentation to determine whether it will provide a loan to Provider. AEDC's approval or disapproval of a loan application is within the sole discretion of AEDC's Executive Director. The Executive Director's determination shall be conclusive and final.
C. Following approval of the borrower's loan application, AEDC will notify Provider of the proposed terms of the loan, including principal amount, interest rate (if any), duration, collateral description and value (if any), and all other relevant information.

Credits

Adopted emergency effective July 24, 2020. Amended Nov. 30, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 003.19.7-3, AR ADC 003.19.7-3
End of Document