---
kind: "section"
citation: "25 C.F.R. § 103.21"
title: "25"
number: "103.21"
heading: "Who applies for interest subsidy payments, and what is the application procedure?"
url: "https://uscodex.org/cfr/25/103.21"
---

# §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 §§ [103.12](/cfr/25/103.12.md) and [103.13](/cfr/25/103.13.md) (relating to loan guaranty and insurance coverage applications). BIA approves, returns, or rejects interest subsidy requests in the same manner indicated in [§ 103.16](/cfr/25/103.16.md), based on the factors in [§ 103.20](/cfr/25/103.20.md) 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.

## Notes

### Authority

Authority: 25 U.S.C. 1498, 1511.

### Source

Source: 66 FR 3867, Jan. 17, 2001, unless otherwise noted.