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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.74. Alaska Microloan Revolving Loan Fund. |
Section 3.74.015. Examination.
Latest version.
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(a) The materials described in 3 AAC 74.010 will be processed and evaluated by a loan officer. The loan officer will evaluate the applicant's eligibility, financial and credit history, experience, ability to repay, and proposed collateral. (b) On the basis of the evaluation, the loan officer will either (1) inactivate the application due to (A) lack of information required under 3 AAC 74.010; or (B) ineligibility of the applicant; or (2) recommend proposed action on the loan request to the appropriate loan committee; however, the recommendation of a loan officer is not binding on a loan committee.