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Is the bank liable if the borrower did not use the loan for energy efficiency improvements?

April 26, 2017Bank borrower Energy efficiency improvements liable loan

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Is the bank liable if the borrower did not use the loan for energy efficiency improvements?

1 Answer

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No, the bank is not liable. However, in this case, the customer would be in default of the loan and the lender would be required to pay back the full subsidy amount.