Section 81.137. Application process

(a) Submission of applications. Applications for working capital loans or surety bond guarantees shall be submitted to and prepared by an approved Business Development Center, in a form prescribed by the Authority. The Business Development Center shall determine whether the application is complete and shall forward completed applications to the central office in Harrisburg. An application shall be deemed to be filed on the day it is received in Harrisburg, as evidenced by a date affixed on the face of the application.

(b) Board action. The Board will take action to approve, disapprove or table an application within 60 days of the date on which it was filed.

The provisions of this § 81.137 adopted February 6, 1987, effective February 7, 1987, 17 Pa.B. 634.

Notation

Authority

The provisions of this § 81.137 issued under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P. S. § 390.9).