An applicant may choose to submit an application directly to: One or more participating financial institutions; or The Department, to be forwarded to all participating financial institutions. For an application submitted directly to a financial institution under §A(1) of this regulation, the following procedures apply: Before making a loan commitment to the applicant, the financial institution shall submit an application to the Department on forms prescribed by the Department; The Department may require that the application be submitted in electronic form; and After receipt of a completed application, the Department shall either: Confirm that the applicant is a certified minority business enterprise or a small business and notify the applicant and the financial institution in writing that the applicant meets the program requirement that it be a certified minority business enterprise or a small business; or Notify the applicant and the financial institution in writing that the application has been denied because the applicant is not a certified minority business enterprise or a small business. For an application submitted to the Department under §A(2) of this regulation, the following procedures apply: An applicant shall submit a completed application to the Department on forms prescribed by the Department; An applicant may submit the application in electronic form or written form; After the receipt of a completed application, the Department shall either: Confirm that the applicant is a certified minority business enterprise or a small business; or Notify the applicant in writing if its application has been denied because it is not a certified minority business enterprise or a small business; and If the Department confirms that the applicant is a certified minority business enterprise or a small business, the Department shall provide: All financial institutions eligible to participate in the Program with a copy of the completed application; and The applicant with a list of all financial institutions that received a copy of the application.