Loan and Loan Guaranty Approval

Loan and Loan Guaranty Approval. MDA shall review all GCRF loan/loan guaranty applications received during the appropriated year for consideration under the Act, and all completed loan applications will be presented for consideration to MDA’s GCRF Loan Review Committee. If a loan has been applied for under Section 8 of the Act and the review committee has approved a loan application, the loan commitment is valid for ninety (90) days. If the loan has not closed within ninety (90) days, updated information may be required and the loan will be resubmitted to the review committee for approval before the loan can proceed to closing.