West Virginia Code of State Rules › Agency 193 - Technology-Related Assistance Revolving Loan Fund For Individuals with Disabilities Board › Title 193 - LEGISLATIVE RULE WEST VIRGINIA TECHNOLOGY-RELATED ASSISTANCE REVOLVING LOAN FUND FOR INDIVIDUALS WITH DISABILITIES BOARD › Series 193-01 - WV Technology Related Assistance Revolving Loan Fund For Individuals with Disabilities › Section 193-1-5 - Application Procedure and Contents

Current through Register Vol. XLI, No. 28, July 12, 2024
5.1. An individual may obtain an application form from the
				  Board and shall submit the completed application to the Board. The Board shall
				  assist or otherwise provide for assistance to any applicant who requires
				  assistance in completing the loan application documents. The application shall
				  include the following information:
5.1.a. Certification from the applicant that the applicant
				  meets all eligibility requirements;
5.1.b. Satisfactory evidence of the applicant's net income
				  and net worth;
5.1.c. A statement including the cost, description and
				  intended use of the technology-related device or service that the applicant
				  proposes to purchase;
5.1.d. A statement of contributing sources of financing for
				  the device or service if required by the Board; and
5.1.e. Proof of disability of the applicant or the intended
				  user if required by the Board. The proof may include a statement from a
				  physician indicating how the applicant's disability affects one or more major
				  life activities. The Board may also require an assistive technology evaluation
				  prior to consideration of the loan application.
5.1.f. The Board shall refer all applications received,
				  together with any supporting documentation, to its Application Committee. The
				  Application Committee shall consist of four members of the Board who are
				  appointed by the chairperson. At least one of the members of the Application
				  Committee shall be an individual with a disability or have a family member who
				  has a disability. The Application Committee shall consider the following in
				  recommending approval or rejection of an application for a loan:
5.1.f.1. Whether an applicant is eligible for a loan;
5.1.f.2. Whether the loan proceeds will be put to an eligible
				  use;
5.1.f.3. Whether the proposed loan is an efficient use of
				  loan funds;
5.1.f.4. Whether any other financing sources may be used to
				  supplement the loan;
5.1.f.5. Whether there are sufficient assets to provide
				  adequate collateral for the loan;
5.1.f.6. Whether the application is complete and the
				  applicant has supplied all information necessary for financial review and
				  analysis of the application;
5.1.f.7. The applicant's ability to repay the loan;
				  and
5.1.f.8. The adequacy of security provided for the
				  loan.
5.1.g. In considering the factors set forth in Subdivision
				  5.1.f. of this section, the Board shall determine the appropriate weight to
				  give to each factor in each case.
5.1.h. The Board's Application Committee shall determine
				  whether and when an application is complete and its decision is final. When the
				  Application Committee determines that a loan application is complete and ready
				  for review, it shall then request a credit report from the appropriate credit
				  bureau. The Application Committee shall not consider the absence of a credit
				  history a negative factor in it's evaluation of an application nor is the
				  absence grounds, in and of itself, for the Board to deny an application for a
				  loan.