Current through Register Vol. 54, No. 52, December 28, 2024
Section 138d.6 - Evidence of matching funds(a) Prior to loan approval, the applicant shall provide evidence to the Department that it has secured matching funds from a lender for the project for which the loan is requested. The type of evidence that the Department will require will be in the sole discretion of the Department.(b) The applicant shall also provide a letter from the lender providing matching funds recommending that a loan under this chapter be granted and stating that its loan to the applicant would not be feasible without a loan from the Department. This section cited in 7 Pa. Code § 138d.3 (relating to amount of loan); 7 Pa. Code § 138d.7 (relating to general conditions); and 7 Pa. Code § 138d.12 (relating to action by Secretary).