Ill. Admin. Code tit. 35 § 886.605

Current through Register Vol. 48, No. 49, December 6, 2024

Section 886.605 - Loan Repayment to the Agency

Loan repayment to the Agency shall be in accordance with the loan repayment provisions contained in the loan agreement.

a) Loan repayment shall commence within 12 months after the initial disbursement of funds by the Agency.

b) The Agency shall set a principal amount and give the loan recipient an interim repayment schedule.

c) After a final cost review of the project, the Agency shall establish the final principal amount and give the loan recipient a final repayment schedule.

Ill. Admin. Code tit. 35, § 886.605