The applicant must present to the lender the information necessary to determine if the applicant is eligible and qualified to receive a loan guarantee under the program. Such information will include the following: (1) the application checklist form for the program provided by the Authority; (2) the plan, as submitted to the lender, for the applicant's proposed farm, ranch, or agriculture-related business to be financed, including a budget for the proposed operation; (3) a completed application for a loan from a commercial lender on which an eligible applicant has indicated how the loan proceeds will be used to implement the applicant's plan; and (4) the signed statement of a loan officer of the commercial lender that a loan guarantee is requested for approval of the loan application. |
