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(a) An applicant for a loan from the Sustainable Building Design Revolving Loan Fund shall:
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(1) Apply on a form approved by the Building Authority Division; and
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(2)
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(A) Remit an origination fee of one-half of one percent (0.5%) of the requested amount of the loan.
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(B) However, the amount of the origination fee shall not exceed two thousand five hundred dollars ($2,500).
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(b) The division shall review the application to determine if the applicant satisfies the eligibility criteria for a loan from the fund.
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(c) The division shall provide the applicant written notice of its determination whether to offer a loan from the fund and any conditions for making the loan.
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(d) After the applicant has satisfied any preconditions, if any, for the division’s approval of the loan and has executed a contract for the loan, the division shall forward the loan contract to the Department of Finance and Administration and the Governor for their approval.
