Pennsylvania Statutes Title 3 P.S. Agriculture § 1306. Review of applications by the Secretary of Commerce

(a) Form of application.--Prior to recommending the approval or rejection of any interest deferral or loan guarantee authorized by this act, the Secretary of Commerce  1 shall receive from the prospective lender an application in the form and manner prescribed by the Secretary of Agriculture and the Secretary of Commerce together with any other information as they shall require the prospective borrower and the prospective lender to provide.

(b) Review of application.--Upon receipt of a properly submitted and documented application, the Secretary of Commerce shall conduct a financial review of the application and recommend approval, approval with special conditions, or rejection of the application on the basis of the following criteria and the eligibility criteria and loan limits prescribed by section 8:  2

(c) Transmittal to the Secretary of Agriculture.--Following the review and recommendation, the Secretary of Commerce shall transmit the application and the recommendation on that application to the Secretary of Agriculture together with the rationale for that recommendation and any other information requested by the Secretary of Agriculture and the Secretary of Commerce.

(d) Use of area loan organizations.--In carrying out his duties and responsibilities under this section, the Secretary of Commerce may utilize area loan organizations which have been certified by the Secretary of Agriculture and the Secretary of Commerce. In determining if an area loan organization should be certified for the purposes of this act, the secretaries shall consider, in addition to other relevant factors, the expertise of that area loan organization in matters relating to agriculture. The secretaries may certify an area loan organization for the purposes of performing some duties and responsibilities under this section but deny certification for the purpose of performing other duties and responsibilities for which the organization is determined not to have sufficient expertise or personnel. Area loan organizations may establish and charge reasonable fees for processing loan guarantees and interest deferrals under this act with the approval of the secretary.