Ill. Admin. Code tit. 41 § 294.150

Current through Register Vol. 48, No. 43, October 25, 2024

Section 294.150 - Loan Application Procedure and Content

a) Subject to the availability of funds, the Office will send a notification to all fire departments of fund availability and post application forms for zero-interest loans and low-interest loans under this Program on the Office's website at www.sfm.illinois.gov. The application form shall identify the information applicants must include in their loan requests and shall require that the loan application be returned to the Office no later than the date specified in the application form. Applications shall be returned to the Office of the State Fire Marshal, Attention: Fire Station Revolving Loan Program, 1035 Stevenson Drive, Springfield, Illinois 62703-4259.

b) Each loan application shall include the following components:

1) A completed application form supplied by the Office and signed by the duly authorized officers of the Board.

2) A description of the applicant's need for the proposed fire station construction, rehabilitation, remodeling or expansion as identified in the application in light of the resources available to the fire department.

3) Identification of the personnel to serve as contacts for information.

4) Budget information, including detailed information on income, expenditures and the source of loan repayment funds. If repayment plans are based on charitable contributions or fundraisers, the applicant must provide a history of amounts raised in prior years. (See 74 Ill. Adm. Code 1100.1125.)

5) Certifications and assurances as the Office or Authority may require.

6) Any other information requested by the Office or the Authority to aid that agency in making its determination under this Part.

c) Applications received at the Office shall be logged in as received and assigned an application identification number.

d) Applications shall be assessed by blind review, meaning the Committee shall not see the name, address or any specific information that identifies the applicant.

e) The Office will forward those loan applications recommended for approval to the Authority for review under its guidelines of creditworthiness (see 74 Ill. Adm. Code 1100.1117 ). The Authority, after completion of its review, will notify the Office of the loan applications it will approve. The Office will then notify the applicants.

f) Applicants that are delinquent on a previous loan funded through this Program will be automatically disqualified from further funding under this Program, or other loan programs administered by the Office, until any loan repayment delinquency has been cured.

Ill. Admin. Code tit. 41, § 294.150

Adopted at 39 Ill. Reg. 5812, effective 4/7/2015.