Section 15-155-7 - Review of applications(a) HEER will perform the review of the VRP application and make a determination whether to accept the applicant into the program.(b) Upon acceptance of a VRP application, the applicant may be offered the opportunity to apply for a BCRLF loan. Once OP deems the loan application to be complete and eligible, the department's Business Loan Officer will analyze the financial components of the completed loan.(c) OP and the affected county government will jointly review the completed loan application to confirm that the project qualifies for the BCRLF program and will then jointly submit the application to the Hawaii BCRLF Loan Committee for review and approval.(d) Applicants accepted into the BCRLF program will receive a letter of commitment from OP detailing the terms, conditions, and collateral requirements of the loan. The loan authorized by this commitment letter will be subject to final acceptance following completion of a technical review and public involvement process.