1450-01-.07
Approval Process
Cite as Tenn. Comp. R. & Regs. 1450-01-.07
(1)
Initial Review. The Agency shall review the Loan application to ensure that it is complete. The
Agency shall inform the Applicant in writing of the acceptance of the application and the receipt
of any information requested by the Agency
(2)
Review Panel. The Review Panel shall review the applications and make a recommendation
for approval based on the Scoring Rubric.
RESILIENT TENNESSEE REVOLVING LOAN FUND ACT
CHAPTER 1450-01
(a)
The Review Panel will be made up an odd number of at least three (3) individuals
appointed by the Director. At least one (1) individual will be appointed by the Director
from outside of the Agency.
(b)
The Review Panel will conduct business in accordance with T.C.A. §§ 8-44-101, et seq.
(c)
The Review Panel shall recommend the interest rate and repayment timeline for a Loan.
(d)
No member of the STORM Act Team within TEMA will be a member of the Review Panel.
(3)
Final Approval. The Director has final approval authority of Loan Agreements.