103.18—How does BIA issue a loan guaranty or confirm loan insurance?
(1)
BIA issues a signed loan guaranty certificate bearing a series number, an authorized signature, a guaranty percentage rate, the lender's name, the borrower's name, the original principal amount of the loan, and such other terms and conditions as BIA may require;
(1)
The loan's purpose and terms meet the requirements of the Program and the lender's loan insurance agreement with BIA;
(3)
The lender notifies BIA of the borrower's identity and organizational structure, the amount of the loan, the interest rate, the payment schedule, and the date on which the loan closing and funding occurred;
(5)
If over $100,000 or if the loan requires interest subsidy, BIA approves the loan in writing; and
(6)
If over $100,000 or if the loan requires interest subsidy, the lender meets all of the conditions listed in BIA's written loan approval.