Disbursements

01. Loan Disbursements. Requests to the Department for actual disbursement of loan proceeds will be made by the loan recipient on forms provided by the Department. (3-24-22) 02. Loan Increases. An increase in the loan amount as a result of an increase in eligible project costs may be considered, provided funds are available. Documentation supporting the need for an increase must be submitted to the Department for approval prior to incurring any costs above the eligible cost ceiling. (7-1-26) 03. Loan Decreases. If the actual eligible cost is determined by the Department to be lower than the estimated eligible cost the loan amount may be reduced proportionately. (7-1-26) 04. Project Review to Determine Final Eligible Costs. A project review by the Department or a Department designee will determine the final eligible costs. (3-24-22) 05. Final Disbursement. The final loan disbursement consisting of five percent (5%) of the total loan amount will not be made until final inspection, final review, and a final loan repayment schedule have been completed. (7-1-26)