Disbursements

(1) Requisition. The Agency shall authorize the Division to disburse Loan Monies from the Fund only upon receipt of a Requisition, appropriately completed and signed by an Authorized Borrower Representative. (2) Documentation. Proper invoices and other reasonable documentation required by and acceptable to the Agency must be submitted with the Requisition. (3) Funding Timeline. (a) The Borrower will have sixty (60) months of the date of the Loan Agreement to draw funds for Project completion. (b) No more than ninety (90) percent of the Loan shall be disbursed to the Borrower prior to the final approval after completion. (c) After the final approval of the Project completion, the remaining ten percent (10%) of the Loan will be disbursed.