4280.161—Direct Loan Process.
(a)
The Agency will determine each year whether or not direct loan funds are available. For each year in which direct loan funds are available, the Agency will publish a Notice of Funds Availability (NOFA) in the Federal Register.
(b)
In each direct loan NOFA, the Agency will identify the following:
(1)
The amount of funds available for direct loans;
(2)
Applicant and project eligibility criteria;
(3)
Minimum and maximum loan amounts;
(6)
Application and documentation requirements;
(7)
Evaluation of applications;
(8)
Actions required of the applicant/borrower (e.g., appraisals, land and property acquisition);
(9)
Insurance requirements;
(10)
Laws that contain other compliance requirements;
(11)
Construction planning and performing development;
(12)
Requirements after project construction;
(13)
Letter of Conditions, loan agreement, and loan closing process;
(14)
Processing and servicing of direct loans by the Agency; and
(15)
Any applicable definitions.