In reviewing an application for financing by the program, the Department may
require an applicant to submit further documentation to determine whether a
loan should be made. If the Department fails to receive any items requested of
the applicant within fourteen days after making its request in writing, the
loan request may be denied. If the loan request is denied and the applicant
still desires to make a loan application, the applicant must submit a new
application and pay again any fees and charges applicable to loan applications
that are described in OAR 330-110-0055
Application review and appeal must
conform to ORS 470.080
(3) Loan approval or
denial is communicated to an applicant in writing. A Department issued approval
expires on the expiration date stated in the approval, or if no date is given,
60 days after the date of the approval. If the loan is not closed prior to the
date the approval expires, an applicant must submit a new application and pay
the fees and charges applicable to a new loan application. Any substantial
change, including but not limited to, a change in financial position, project
scope or the ownership of applicant, prior to the expiration of the approval,
may result in the voiding of the loan approval and require submission of a new
Department may require a third party project and financial feasibility study in
form and substance acceptable to the Department as a condition of approval on a
loan. Applicant must pay the cost of a third party study.
(5) Findings under ORS
470.090 are for the benefit of
the Department for lending purposes only. They do not endorse the project, its
design or its parts. They offer no assurance of any kind to any person or
entity, including the applicant, for any purpose.
Or. Admin. R.
DOE 12-1980, f. & ef.
12-16-80; DOE 6-1982, f. & ef. 4-21-82; DOE 2-1983, f. & ef. 5-16-83;
DOE 4-1984, f. & ef. 3-6-84; DOE 2-1986, f. & ef. 3-4-86; DOE 4-1988,
f. & cert. ef. 7-26-88; DOE 2-1998, f. & cert. ef. 9-30-98; DOE 7-2004,
f. & cert. ef. 12-20-04; DOE 13-2012, f. & cert. ef.
Stat. Auth.: ORS 469 &
Stats. Implemented: ORS