An entity eligible to receive a loan under Regulation .03A of this chapter may apply to the Authority for a loan to fund an activity eligible under Regulation .03B of this chapter. For reasons or circumstances determined appropriate or necessary by the Authority, the Authority may at its discretion: Establish deadlines for acceptance of loan applications; Refuse to accept loan applications; and For a loan application accepted by the Authority: Hold the Authority’s consideration of the application in abeyance; or Decide not to consider the loan application. Application. A loan application shall: Be made on forms prescribed by the Authority; Establish that the applicant is an eligible borrower as provided in Regulation .03A of this chapter evidenced by copies of its organizational documents, including as applicable its articles of incorporation and bylaws, its articles of organization and operating agreement, its certificate of limited partnership and limited partnership agreement, or its partnership or joint venture agreement, and evidence of being in good standing and qualified to do business in the State; Describe in detail the proposed activity; Identify the estimated or actual cost of the proposed activity evidenced by contractor bids, proposals, or other good faith estimates; Identify in a proposed budget all proposed sources and uses of funding for the activity; Establish the applicant’s capability and readiness to initiate and undertake the activity and to complete the activity within an established time frame; Identify the property that will benefit from or be assisted by the loan; Identify the ownership of the property and any lessees of the property; Include information sufficient for the Authority to evaluate: The activity’s consistency with the goals of the management plan; The historical or cultural significance of the property; The current and proposed conditions and uses of the property; The extent to which the activity will impact use of the property; The applicant’s ability to repay the loan, including identification of sources of revenue that will be used to repay the loan; If the activity involves a leasehold property, that the activity is authorized under the lease and the remaining lease term is equal to the proposed term of the loan; and If the activity involves acquisition of property, that the applicant has the authority to purchase the property under a valid purchase option agreement, purchase and sale agreement, or other evidence satisfactory to the Authority; and Include other information as may be required by the Authority. Application Fee. The Authority may require a loan applicant to pay an application fee to cover some portion of the cost of processing the application and the loan. Loan Application Review and Processing. After receipt of an application for a loan that the Authority has accepted and will consider for potential funding, staff of the Authority: Will conduct an initial assessment for the completeness of the information required under §C of this regulation; May conduct an inspection of the property for any assessment purpose related to the review and processing of the application; and Shall notify the applicant in writing of any missing information required under §C of this regulation or of other requirements that the applicant must satisfy in order for the application to be complete. The Authority shall not consider for approval a loan application for which the applicant has not satisfied all requirements. Withdrawal of Application. An applicant may withdraw an application for a loan at any time before closing of the loan by sending written notice to the Authority. An applicant who withdraws an application shall be responsible for all costs, other than the Authority’s internal processing costs, incurred by the Authority to process the application, including, but not limited to, costs to obtain credit reports or appraisals.