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26 <br />2. Completed applications will be submitted to the Loan Committee no later <br />than two weeks prior to its next scheduled meeting. `''"~~~ <br />3. At the ~~+~scheduled meeting, the Loan Committee will discuss the <br />strengths and weaknesses of complete loan application s) and decide <br />whether or not to take action on the request, based on the information <br />provided. The Loan Committee may invite the applicant(s) to a meeting_ <br />in order to provide additional uzformation. <br />4. The applicant wdl be informed in writing of the Loan Committee's <br />decision to deny, grant, grant with condition, or seek more information_ <br />Should -the Loan Committee deny the applicant's application, the Loan <br />Committee will not thereafter consider any applications from that <br />applicant for at least six months. <br />54. At its discretion, the Loan Committee may impose any additional terms <br />and conditions necessary to improve the loan or to secure the loan. The <br />Loan Committee may require an itemized budget detailing the proposed <br />use of loan funds: <br />I ~r5. Should the applicant think that the application has been improperly <br />denied, then the- applicant may notify, in writing, the Loan Committee. <br />The notice to the Loan Committee shall state why the applicant thinks the <br />loan should be approved. Denia-l of the application shall then be given <br />further consideration by the Loan Committee. The Loan Committee's <br />decision on the loan is the final decision. <br />g7. The Loan Committee shall provide regular''. ?^~^'- ^,,.,,.,-^•-~-~~-reports to <br />- z-------~, <br />the Board of County Commissioners of loans that it has approved. Any <br />event of default or loan loss shall be reported to the Board of County <br />Commissioners in writing and presented to the Board of County <br />Commissioners at its next regular meeting following the event of default <br />or loan loss. <br />11 <br />