HAR §15-301-30. Loan application process

(a) The corporation shall obtain a listing of the leaseholders from the department of land and natural resources. (b) A loan application packet will be mailed to all interested leaseholders. (c) Loan applications received by the corporation will be time and date stamped, and will be reviewed on a first-come, first-served basis, subject to fund availability. [Eff SEP 172001 ] (Auth: HRS §201H-81) (Imp: HRS §201H-81) §15-301-31 Review of loan application; loan approval/disapproval. (a) Loan applications will be preliminarily reviewed to ensure all required information has been submitted to the corporation. 301-8 §15-301-31 (1) Information required includes, but is not limited to, a completed, signed loan application and all supporting documents to verify current income and assets (i.e., employment paystubs, bank statements), copies of signed federal and/or state income tax returns for the most recent past two (2) years, letters of denial from one (1) financial institution, owner-occupancy statement, copy of recorded Kikala-Keokea residential subdivision lease document, and any other document required by the corporation. (2) Loan applications deemed to be substantially incomplete shall be returned to the leaseholders. No further action will be taken on the part of the corporation. Leaseholders resubmitting their loan application for review will be subject to section 15-301-30(c). (b) Final review of the loan applications will be based on the leaseholder's ability to qualify for a program loan and includes the review of the leaseholder's income, repayment ability and creditworthiness. (c) Upon completion of the final review, a recommendation will be made to the executive director for approval or disapproval of the leaseholder's loan application. (d) Leaseholders will be notified in writing as to their ~alification for a program loan. [Eff SEP 172007 ] (Auth: HRS §201H-81) (Imp: HRS §201H-81) 301-9 8i1s §15-301-40 SUBCHAPTER 4 MISCELLANEOUS PROVISIONS