S.D. Admin. R. 68:01:02:12
Current through Register Vol. 51, page 56, November 4, 2024
After the loan is approved by the authority and the USDA RD but before the loan agreement is entered into, the authority or the GOED may conduct an overall review of the applicant's financial status. This review may include an analysis of all assets and liabilities and an analysis of the ability of the business to service and honor the loan commitments. If the applicant's financial condition has materially changed since the approval of the loan, the authority may disapprove the loan or seek modification of loan amounts and equity contributions.
S.D. Admin. R. 68:01:02:12
General Authority: SDCL 1-16B-14(4).
Law Implemented: SDCL 1-16B-37, 1-16B-44, 1-16B-46.