[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR103.21]

[Page 305-306]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 103_LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY--Table of Contents
 
                       Subpart C_Interest Subsidy
 
Sec. 103.21  Who applies for interest subsidy payments, and what is the 
application procedure?

    (a) An eligible lender must request interest subsidy payments on 
behalf of an eligible borrower, after determining that the borrower 
qualifies. Typically, the lender should include a request for interest 
subsidy at the time it applies for a guaranty or insurance coverage 
under the Program. A request for interest subsidy must be supported by 
the information required in Sec. Sec. 103.12 and

[[Page 306]]

103.13 (relating to loan guaranty and insurance coverage applications). 
BIA approves, returns, or rejects interest subsidy requests in the same 
manner indicated in Sec. 103.16, based on the factors in Sec. 103.20 
and BIA's available resources.
    (b) BIA's approval of interest subsidy for an insured loan may 
provide for specific limitations on the manner in which the lender and 
borrower can modify the loan.