12:07:12:13Loan

decision process. The commissioner, in accordance with SDCL chapter 1-53, and the provisions of this chapter, must approve all loan applications. The commissioner shall base the decision on the following actions: (1) The administrator shall review the application and the lender's recommendations, if applicable, based on the following criteria: (a) The applicant and lender, if applicable, meet the requirements contained in this chapter; (b) The project meets the requirements contained in this chapter; (c) The application and the loan are consistent with the purposes of this chapter; and (d) Availability of funds in the Rural Rehabilitation fund; (2) The administrator shall review the application and submit a recommendation to the review committee; (3) The review committee shall consider the application using the following criteria: (a) The criteria given in subdivisions (1)(a) and (1)(b) of this section; (b) The character, experience, management record, and background of the applicant; (c) The net economic effect or stabilization of the project on the applicant's operation, the community, the area, and the state; (d) The project's compliance with all local, state, and federal statutes and applicable regulations; (e) The support of the community and the area; (f) The competitive effect of the project on existing area businesses; (g) The effect of the project on the environment, health, and safety of the people in the community and the state; (h) The ability of the applicant to service the debt from the cash flow of operations, capital, or collateral; (4) The review committee and the commissioner shall make one of the following decisions: (a) Approve as presented; (b) Conditionally approve subject to modifications or performance of certain actions; or (c) Deny.

Source: 17 SDR 141, effective March 25, 1991; 38 SDR 45, effective September 22, 2011; 45 SDR 31, effective September 13, 2018; SL 2019, ch 235, § 37 and 38, effective April 14, 2019.