Government Grants, Loans: Business and Industry Loans (Application Process)

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Business and Industry Loans

Business and Industry Loans

APPLICATION AND AWARD PROCESS
	· Award Procedure
		Applications are forwarded to the Rural Development State Director for review and final approval.
	· Preapplication Coordination
		This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. All preapplication letters must be coordinated fully with appropriate State agencies in keeping with E.O. 12372, "Intergovernmental Review of Federal Programs," in a manner that will assure maximum support of the State's strategies for development of its rural areas. The application form as furnished by the Federal agency must be used for this program. An environmental assessment is required and an environmental impact statement may be required for this program. This program is excluded from coverage under OMB Circular No. A-102.
	· Application Procedure
		Form 4279-1 is used for guaranteed loans and filed at the Rural Development State Office. These programs are excluded from coverage under OMB Circular No. A-110.
	· Deadlines
		Not applicable.
	· Range of Approval/Disapproval Time
		From 60 to 120 days.
	· Appeals
		If an application is denied, the reasons for denial are fully stated. The lender or applicant may individually or jointly request mediation or an appeal hearing by the National Appeals Staff within 30 days provided the request is in writing. The requestor and State Director are notified of the decision by the Hearing Officer.
	· Renewals
		Not applicable.

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