Okla. Admin. Code § 415:10-4-4
Current through Vol. 42, No. 4, November 1, 2024
The primary purpose of a linked deposit loan shall not be to refinance existing debt to a lower interest rate. If the applicant plans to use 50% or more of the linked deposit loan proceeds to refinance existing debt, the Board or OST staff on behalf of the Board, may require additional information or documentation to demonstrate that the primary purpose of the loan is for job creation or preservation.
Okla. Admin. Code § 415:10-4-4