(a) All applications for loans shall be filed with the Division. The information required in the application shall be sufficient to permit the Division to determine the eligibility of the applicant pursuant to G.S. 159I‑10 and to establish the priority of the application pursuant to G.S. 159I‑11. An applicant shall furnish information in addition or supplemental to the information contained in its application upon written request.
(b) Applicants may apply for a loan prior to arranging for repayment. (1989, c. 756, s. 1.)