Arkansas Statutes
§ 22-3-1904 — Loan approval process
Arkansas·Title 22
(a)An applicant for a loan from the Sustainable Building Design Revolving Loan Fund shall:
(1)Apply on a form approved by the Building Authority Division; and (2) (A) Remit an origination fee of one-half of one percent (0.5%) of the requested amount of the loan.
(B)However, the amount of the origination fee shall not exceed two thousand five hundred dollars ($2,500).
(b)The division shall review the application to determine if the applicant satisfies the eligibility criteria for a loan from the fund.
(c)The division shall provide the applicant written notice of its determination whether to offer a loan from the fund and any conditions for making the loan.
(d)After the applicant has satisfied any preconditions, if any, for the division's approval of the loan and has executed a contrac
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Legislative History
Amended by Act 2019, No. 910,§ 6225, eff. 7/1/2019. Acts 2009, No. 1372, § 1.
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