ESTIMATED TIMING
Step 1: VA issues the Notice of fund Availability.
Step 2: Completed Stage 1 applications are submitted on a Rolling Basis.
Step 3: VA reviews completed applications for eligibility and feasibility and notifies Stage 1 Applicants of questions or comments within 60 days of submission to VA.
Step 4: Revised Stage 1 applications are due to VA within 60 to 90 days from date of notification.
Step 5: VA either rejects the Stage 1 application or issues a conditional commitment and requests Stage 2 applications for facilities determined eligible and feasible within 60 days of receipt of revised application.
Step 6: Stage 2 applications are due to VA within 90 to 120 days of receipt of Stage 2 application
Step 7: VA reviews and evaluates completed Stage 2 applications and notifies applicants of questions or comments within 60 days of receipt of Stage 2 application.
Step 8: Revised Stage 2 applications are due to VA within 60 to 90 days of notification.
Step 9: VA reviews and evaluates completed Stage 2 applications and recommends fund action to the Secretary within 60 days of receipt.
Step 10: VA either rejects the Stage 2 application or issues a guarantee commitment within 60 days of submission to Secretary.
The timing we propose is based on the timing of the first two pilot loans.