Kan. Admin. Regs. § 30-65-2 - Loan application, approval

Current through Register Vol. 40, No. 39, September 30, 2021

(a) Any eligible provider may make application for a loan under this program by submitting the designated loan application form to the department. Each application shall:
(1) Specify the individually named client who would be served with the proceeds of the loan;
(2) specify the amount of the loan sought and the services upon which it is based;
(3) include a proposed repayment schedule;
(4) be signed by an authorized official of the provider; and
(5) be accompanied by any additional information that may be required upon the application form, or that may be necessary to adequately explain the nature of the loan.
(b) Each loan application received by the department shall be reviewed and approved or denied within 14 days of receipt.
(1) Any application considered to be incomplete shall be denied, but may be resubmitted by the provider along with the additional information the department specifies as necessary to make the application complete.
(2) All loan approvals shall be subject to available resources.
(3) Nothing herein shall be construed to prevent the department and provider from agreeing to some loan amount or term different from the amount or term sought in the loan application, so long as the final loan agreement is in compliance with the provisions of these regulations.
(c) A loan application shall not be approved for any provider whose cash reserves are more than the amount regularly necessary to cover two months' operating expenses, including any unusual debt due or expenses expected to be incurred within 90 days of the date of the loan application.

Notes

Kan. Admin. Regs. § 30-65-2
Authorized by and implementing L. 1993, Chapter 292, Sec. 30(b); effective, T-30-10-21-93, Oct. 21, 1993; effective Dec. 6, 1993.

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