Kan. Admin. Regs. § 30-65-2 - Loan application, approval
(a) Any eligible
provider may make application for a loan under this program by submitting the
designated loan application form to the department. Each application shall:
(1) Specify the individually named client who
would be served with the proceeds of the loan;
(2) specify the amount of the loan sought and
the services upon which it is based;
(3) include a proposed repayment schedule;
(4) be signed by an authorized
official of the provider; and
(5)
be accompanied by any additional information that may be required upon the
application form, or that may be necessary to adequately explain the nature of
the loan.
(b) Each loan
application received by the department shall be reviewed and approved or denied
within 14 days of receipt.
(1) Any
application considered to be incomplete shall be denied, but may be resubmitted
by the provider along with the additional information the department specifies
as necessary to make the application complete.
(2) All loan approvals shall be subject to
available resources.
(3) Nothing
herein shall be construed to prevent the department and provider from agreeing
to some loan amount or term different from the amount or term sought in the
loan application, so long as the final loan agreement is in compliance with the
provisions of these regulations.
(c) A loan application shall not be approved
for any provider whose cash reserves are more than the amount regularly
necessary to cover two months' operating expenses, including any unusual debt
due or expenses expected to be incurred within 90 days of the date of the loan
application.
Notes
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