Unless otherwise noted, the provisions of Sec. 4279.161 do not apply to this subpart. Instead, the application provisions of this section and Sec. 4279.261 apply to the preparation of Biorefinery Assistance Guaranteed loan applications.
(a) Application submittal. For each guarantee request, the lender must submit to the Agency an application that is in conformance with Sec. 4279.261. The methods of application submittal will be specified in the annual Federal Register notice.
(b) Application deadline. Unless otherwise specified by the Agency in a notice published in the Federal Register, complete applications must be received by the Agency on or before May 1 of each year to be considered for funding for that fiscal year. If the application deadline falls on a weekend or a Federally observed holiday, the deadline will be the next Federal business day.
(c) Incomplete applications. Incomplete applications will be rejected. Lenders will be informed of the elements that made the application incomplete. If a resubmitted application is received by the applicable application deadline, the Agency will reconsider the application.
(d) Application withdrawal. During the period between the submission of an application and the execution of documents, the lender must notify the Agency, in writing, if the project is no longer viable or the borrower is no longer requesting financial assistance for the project. When the lender so notifies the Agency, the selection will be rescinded or the application withdrawn.