SUPPLEMENTAL GUIDELINES FOR EMERGENCY BUSINESS LOANS THROUGH THE CINCINNATI SMALL BUSINESS LOAN FUND

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "SUPPLEMENTAL GUIDELINES FOR EMERGENCY BUSINESS LOANS THROUGH THE CINCINNATI SMALL BUSINESS LOAN FUND"

Transcription

1 PURPOSE SUPPLEMENTAL GUIDELINES FOR EMERGENY BUSINESS LOANS THROUGH THE ININNATI SMALL BUSINESS LOAN FUND A loan category entitled Emergency Business loan is created to accommodate the unique needs of businesses during times of emergency. The Emergency Business loan and the guidelines related thereto are only applicable for businesses suffering damages to, or loss of, building(s), equipment, machinery, and/or inventory as a result of civil unrest occurring April 9, 2001 through April 16, Each loan must meet one of the eligible activities stipulated in the DBG Entitlement Program Regulations 24 FR Part 570 and detailed in part VII Project Eligibility of these Guidelines. Each loan must also meet one of the following National Objectives as mandated by the DBG program: 1. Benefit to Low and Moderate Income People a. Job reation/retention: Funds are used to finance businesses which create or retain permanent jobs, the majority of which are filled by incinnati residents from low to moderate income households. [Pursuant to DBG regulation 24 FR Section (a)(4).] In the case of job creation, at least 51 percent of new jobs created must be filled by individuals from low to moderate income households as defined by HUD. In the case of job retention, either 51 percent of the retained jobs or 51 percent of refilled turn-over positions must be filled with individuals from low to moderate income households. The business must maintain on file, and submit to the ity as required, an Income Verification Form for each employee hired meeting the low or moderate-income criteria. (Attachment I) b. Low-Moderate Income Area Benefit: Funds are used to assist projects which provide or expand the availability of goods and services to an area with a majority of low to moderate income residents. [Pursuant to DBG regulations 24 FR Section (a)(1).] 2. Prevention/Elimination of Slum and Blight Funds are used to assist rehabilitation of structures in a blighted area undergoing comprehensive revitalization in accordance with an urban renewal plan or to rehab structures determined to constitute "spot blight." Spot blight are conditions determined to be public health or safety hazards. Assistance may be for acquisition, demolition or rehabilitation financing. [Pursuant to DBG regulation 24 FR Section (b)(1).] REPORTING The Director of Economic Development will report to ity ouncil at least semi-annually on loans made pursuant to Emergency Business loan guidelines. I. APPLIANT ELIGIBILITY 1

2 A. Business Ownership: Existing for-profit business enterprises located within the ity limits of incinnati are eligible to apply for emergency business financial assistance through the incinnati Department of Economic Development (ED). B. Non-profit corporations are not eligible for the Emergency Business loan.. Business Size: For-profit applicants must meet the Federal Small Business Act definition of a "Small Business." For most businesses, this means average sales over the past three years of less than $5 million and fewer than 100 employees. ertain industries may exceed these guidelines (e.g., construction and wholesaling) and still be a "Small Business" as defined by the Act. D. Micro Enterprises are businesses with five or fewer jobs. Business owners count as one employee. Businesses with five or fewer jobs and a financing gap of $25,000 or less are eligible for Emergency Business loan assistance. II. FINANING STRUTURE Emergency Business loans can cover up to 100 percent of the eligible business emergency project costs. The loan is made only when the applicant is able to show ability to repay the loan in a reasonable period of time. III. IV. "BUT FOR" ERTIFIATION The But for affirmation is not required for an Emergency Business loan. SELETION RITERIA A. Job reation/job Retention The DBG regulations allow up to $50,000 in financial assistance per individual full time job, or its full time equivalent (FTE), for projects as long as the annual program average financial assistance does not exceed $35,000 per job. FTEs must provide a minimum of 2,080 hours per year or 40 hours per week. To meet the federal program requirements, job creation and retention benefits are structured as follows: Job reation - one new job for each $35,000 borrowed. Priority will be given to businesses that request loans of $10,000 or less per job created. Jobs must be created within three years and maintained for the term of the loan. Job Retention - one retained job for each $35,000 borrowed. Priority will be given to businesses that request loans of $6,000 or less per job retained. Jobs must be retained for the term of the loan. Loans in excess of $35,000 per job created or retained may be granted based upon the project s significant economic or job retention/creation impact on an area. Area Benefit- Assistance provided to businesses that provide goods and services to low/moderate income neighborhoods shall not exceed $1000 per low/moderate income person in the neighborhood served. [24 FR (b)(3)(i)(B)]. 2

3 B. redit riteria for Emergency Business Loans A credit history report will be completed for each applicant to determine his or her payment history on existing debt. All applicants must disclose any adverse credit history. Technical assistance will be provided to applicants as required. 1. urrent cash flow and projected cash flow from the business must be sufficient to support the debt service created by the new loan. V. GENERAL REQUIREMENTS Applicants must agree to each of the contractual terms including, but not limited to, the following conditions: A. Project meets one of the National Objectives as described in the PURPOSE section of this document. B. Provide an Environmental ompliance Request form as required on all federally funded projects. The borrower must comply with reasonable recommendations made by the ity's staff in connection with environmental issues.. Maintain the project in compliance with zoning and all other municipal codes and regulations, and support urban renewal plans, neighborhood plans, or redevelopment goals. D. omply with the reporting requirements mandated by the use of federal funds by providing requested information on at least an annual basis and as requested. E. If a business receiving an Emergency Business loan leaves the ity during the term of the loan, all outstanding principal and interest becomes due and payable within 30 days of receiving notification from the ity. F. Recipients of Emergency Business loans must commit to retaining their pre-emergency employment levels throughout the term of the loan. G. onsider candidates referred by the ity's employment referral agency and comply with the ity job creation/retention reporting requirements during the term of the loan. H. Use its "Best Effort" and take affirmative steps to assure SBEs are utilized as a source of supplies, equipment, construction, and services with the goal of meeting the participation goals established by incinnati Municipal ode hapter 323. I. omply with the Davis-Bacon Act with regard to prevailing wages on construction projects. VI. APPLIATION PROEDURES Emergency Business loan applicants are required to submit information such as: History/description of business Partnerships must provide the partnership agreement 3

4 orporations must provide articles of incorporation and bylaws Interim financial statements - balance sheets, profit and loss statements not more than 90 days old Fiscal year-end financial statements - balance sheets, profit and loss statements for the previous three years (not required for start-up businesses) Business tax returns for the previous three years Personal financial statements of persons or entities owning 20 percent or more of the business Description of the repairs/improvements to be made. Projected financial statement - balance sheets, profit and loss statements for three years Specification and contractors estimates for construction projects Purchase agreements for equipment purchases Sources and uses of funds statement onsent of Property owner if applicant does not own subject property VII. PROJET ELIGIBILITY 1. Eligible Uses of Loan Funds as per 24 FR Part Building repairs 2. Replacement construction 3. Inventory replacement 4. Machinery and equipment replacement. Items must have a useful life of at least five years. 5. Working capital 6. Professional fees related to project a. Architectural, engineering, or survey plans b. Environmental assessments 7. losing costs a. Legal b. Appraisals c. Title examinations d. Title insurance e. Recording B. Limitations on uses of Loan Funds 1. Working capital cannot exceed 30 percent of overall project costs. 2. Professional fees cannot exceed 15 percent of overall project costs.. Refinancing The Emergency Business loan cannot be used to refinance existing debt. D. Ineligible Uses of Loan Proceeds This Emergency Business loan is not to be extended for purposes not related or essential to the business. The following list identifies other ineligible uses or circumstances for financial assistance: 1. Rehabilitation and/or construction of residential housing units or residential floor space. The Emergency Business loan can be used to finance the commercial component of a mixed-use structure. 4

5 2. Loans which result in the Department of Economic Development taking an equity position and/or management role. 3. Loans to social service agencies that provide for the care and/or rehabilitation of people, religious institutions, or other non-profit service providers. 4. Loans to private clubs with restrictions on membership or patronage. 5. Venture capital investments. 6. Loans prohibited by any ity Administrative Regulation, local, state, or federal law. E. Loan Amount Emergency Business loans cannot exceed $50,000 per business. F. Repayment Terms and Interest Rate for Emergency Business Loans 1. Loan payments are made on a monthly basis, except as provided for in F3 below. 2. The interest rate for Emergency Business loans is 1 percent. 3. The maximum term of an Emergency Business loan will be 7 years. Interest will not begin accruing until after the first 12 months of the term of the loan. Interest-only payments will be due during months Principal and interest will be due during years 3 through Loans may be repaid in full at any time without a pre-payment penalty. VIII. OLLATERAL AND GUARANTORS 1. A promissory note in the amount of the loan is required on each loan. Security for each note, such as a mortgage on the real property that is the subject of the loan or other real property, accounts receivable, security interests in the equipment item(s) purchased from loan proceeds, or inventory, life insurance policy, etc., will be required for each loan provided that the unencumbered value of the security item or real property prior to the ity s lien or mortgage is equal to or greater than the amount of the Emergency Business loan. Personal residences and life insurance policies may be required as additional security for the loans. 2. When the Applicant is a corporation, limited partnership, or limited liability company, each person owning 20 percent or more of the business entity may be required to provide a personal guarantee for repayment of the loan. 3. Subordination of the ity s lien position to the position of the private lender participating in the project funding is permitted. 4. Subordination of the ity s lien position to the position of others is permitted provided that the aggregate of the ity s mortgage or lien and other mortgages and/or liens do not exceed the value of the security item or mortgaged real property. 5

6 5. Appropriate documentation, such as title examinations, appraisals, etc., of the value and ownership status of security items or real property will be required of the Applicant. IX. LOAN REVIEW OMMITTEE The Director of Economic Development and the ity Manager are the approval authorities for the Emergency Business loan and may seek the advice of a loan review committee in an advisory role for the Emergency Business loan. Such a loan review committee may review and make a recommendation to the Director of Economic Development on individual Emergency Business loans. This committee may recommend any of the following for a loan application: approval, revisions to the loan structure - method of payback, amortization and interest rate, collateral, additional conditions, or it may refuse to recommend the loan and defer it to the Director of Economic Development. Recommendations for action on individual loans will be advanced to the Director of Economic Development. Upon final recommendation, the Director of Economic Development will request final approval from the ity Manager. X. LOAN APPROVAL AND REVIEW PROESS Applicants must complete a loan application and submit all business financial and business background information. This information is necessary to determine if the applicant meets the eligibility requirements of the program and can repay the proposed loan. The major steps in processing a loan include: 1. Owner completes an application and submits its business financial statements and business background information. 2. Development Officer or his/her designee analyzes the application, financial statements, and business background information and requests additional information if needed. 3. Development Officer or his/her designee and Employment and Training staff meets with the business and visits the business site. 4. Development Officer or his/her designee completes the loan summary, credit write-up. 5. A loan review committee may review and make recommendation on a loan. 6. Director of the Department of Economic Development makes a recommendation on the loan to the ity Manager. 7. Development Officer or his/her designee facilitates loan closing with client, closing attorney, and the Finance Department. 8. Upon closing, the loan agreement is sent to Employment and Training to provide employment assistance. XI. DEISION AND FUNDING OMMITMENTS Upon loan approval, a written commitment to lend will be sent to the applicant, as well as to its private lender, if appropriate, and the appropriate processing documents will be completed. No loan will be closed without evidence of all sources of financing in place, approved project designs, ready to be executed contract documents, evidence of adequate insurance, and compliance with all contract terms. XII. LOAN OMMITMENTS 1. Any material adverse change in the financial condition of the borrower, collateral, or the guarantor may result in the commitment being withdrawn. 6

7 2. Emergency Business Loans must be closed within 30 days of loan approval. XIII. XIV. LOAN LOSING AND SERVIING There are no fees associated with Emergency Business loans. INDUSTRY ONENTRATION The industry concentration clause does not apply to Emergency Business loans. J:\GROUPS\NBD\SBLF\Emergency Business loan guidelines.doc April 25, 2001 July 1997 April 1998, amended April 23, 2001 Revised 7

8 ININNATI SMALL BUSINESS LOAN FUND SUPPLEMENTAL GUIDELINES FOR EMERGENY BUSINESS LOANS APRIL 2001 THE ITY OF ININNATI DEPARTMENT OF EONOMI DEVELOPMENT 8

The Village of North Aurora Small Business Loan Program General Loan Policy

The Village of North Aurora Small Business Loan Program General Loan Policy The Village of North Aurora Small Business Loan Program General Loan Policy PROGRAM DESCRIPTION AND PURPOSE The Small Business Loan Program (SBL) is administered by the Village administrator s office.

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12)

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) 1.0 INTRODUCTION The City of Oroville s Community Development Block

More information

SMALL BUSINESS LOAN PROGRAM

SMALL BUSINESS LOAN PROGRAM SMALL BUSINESS LOAN PROGRAM A. PROGRAM OBJECTIVE The Small Business Loan Program is designed to encourage the creation or enhancement of business enterprises by providing a source of low interest financing.

More information

City of Mequon Town Center

City of Mequon Town Center City of Mequon Town Center Business Development Loan Program Participating Partners: City of Mequon First Bank Financial Centre Funding Source: Public/Bank Consortium Description: A revolving loan fund

More information

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev SMALL BUSINESS LOAN Program Guide Funded by City of Elk Grove with Community Development Block Grant (CDBG) Funds ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev Elk

More information

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDLP) VILLAGE OF MENOMONEE FALLS, WISCONSIN PARTICIPATING PARTNERS Participating

More information

BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES

BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES OBJECTIVES: A. Stimulate development and expansion of new and existing small and medium-sized businesses located within the City of Lorain.

More information

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth.

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth. PITTSBURGH ENTREPRENEUR FUND Program Guidelines I. Statement of Purpose The Pittsburgh Entrepreneur Fund (PEF) will provide capital for new and growing businesses, including emerging technology-based firms,

More information

Village of Paw Paw Policy and Plan For Revolving Loan Fund

Village of Paw Paw Policy and Plan For Revolving Loan Fund Village of Paw Paw Policy and Plan For Revolving Loan Fund The Finance Administrator shall deposit such monies available in separate fund, hereby created, entitled ARevolving Loan Fund@ hereinafter ARLF@.

More information

FHA Sections 220, 221 (d)(4) & 221 (d)(3)

FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA-Insured Financing for the New Construction or Substantial Rehabilitation Of Multifamily Rental Housing FHA Section 220 provides mortgage insurance for housing

More information

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM BUSINESS DEVELOPEMENT LOAN FUND PROGRAM Program Guidelines and Operating Criteria 1. STATEMENT OF PURPOSE The BDF Economic Adjustment Revolving Loan Fund Program is designed to stimulate the creation and

More information

City of Tuscaloosa Small Business Revitalization Loan Program

City of Tuscaloosa Small Business Revitalization Loan Program City of Tuscaloosa Small Business Revitalization Loan Program Administrative Guidelines Amended February 9, 2016 I. INTRODUCTION On April 27, 2011, 421 businesses were directly affected, some destroyed,

More information

SMALL BUSINESS LOAN FUND GUIDELINES. Funded By: Fay-Penn Economic Development Council

SMALL BUSINESS LOAN FUND GUIDELINES. Funded By: Fay-Penn Economic Development Council SMALL BUSINESS LOAN FUND GUIDELINES Funded By: Fay-Penn Economic Development Council SMALL BUSINESS LOAN FUND 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan

More information

Revolving Loan Fund for Commercial Development Summary*

Revolving Loan Fund for Commercial Development Summary* Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Commercial Development Summary* Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of Funds:

More information

CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840)

CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840) CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840) Effective April 1, 2013 March 31, 2023 TABLE OF CONTENTS NEED AND PURPOSE 1 SECTION I. GENERAL COMMUNITY AND ECONOMIC DEVELOPMENT STRATEGY

More information

Page 1 of 9 MICROLOAN RULES AND REGULATIONS

Page 1 of 9 MICROLOAN RULES AND REGULATIONS Page 1 of 9 MICROLOAN RULES AND REGULATIONS Micro Loans will be made available to small businesses located in or locating in, the City of Darlington. The Darlington Downtown Revitalization Association

More information

Wright County Enterprise Loan Fund Policies and Procedures

Wright County Enterprise Loan Fund Policies and Procedures Wright County Enterprise Loan Fund Policies and Procedures Established 1993 Revised December 1998 Revised December 2002 Revised in 2004 & approved by commissioners January 2005 1 I. OVERVIEW The purpose

More information

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM PARTICIPATING PARTNERS Village of Grafton First Bank Financial Centre FUNDING SOURCE Government/Bank Consortium DESCRIPTION A revolving loan

More information

REGULATION NO. 30. Loans for Rural Economic Development

REGULATION NO. 30. Loans for Rural Economic Development EASTERN ILLINI ELECTRIC COOPERATIVE REGULATION NO. 30 SUBJECT: Loans for Rural Economic Development OBJECTIVE: It is the objective of Eastern Illini Electric Cooperative (Cooperative) to provide an additional

More information

BUSINESS DEVELOPMENT LOAN PROGRAM

BUSINESS DEVELOPMENT LOAN PROGRAM BUSINESS DEVELOPMENT LOAN PROGRAM Overview Established in 2013, the Business Development Loan Program provides below market rates and favorable terms for new and existing businesses located in the Town

More information

COEUR D ALENE TRIBAL HOUSING AUTHORITY MORTGAGE FINANCING ASSISTANCE FINAL POLICY (CDTHA MFA)

COEUR D ALENE TRIBAL HOUSING AUTHORITY MORTGAGE FINANCING ASSISTANCE FINAL POLICY (CDTHA MFA) COEUR D ALENE TRIBAL HOUSING AUTHORITY MORTGAGE FINANCING ASSISTANCE FINAL POLICY (CDTHA MFA) November 2006 TABLE OF CONTENTS I. General...3 II. Eligible Recipients...3 III. Selection Criteria...4 IV.

More information

ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS)

ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS) ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS) Background I. Eligible Borrowers A. Existing and potential start-up businesses, located in the city limits of Roseau, who can demonstrate

More information

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES LENDING PHILOSOPHY The Housing Finance Authority of Pinellas County (HFA) follows Pinellas County

More information

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan Fund. The Small Business Loan Fund Program is designed to stimulate

More information

Residential Rehabilitation Loan Program Guidelines

Residential Rehabilitation Loan Program Guidelines Residential Rehabilitation Loan Program Guidelines City of Middletown Department of Planning, Conservation and Development Community Development Division February 1999 Table of Contents Purpose 1 General

More information

Economic Development and Housing Challenge Program

Economic Development and Housing Challenge Program Economic Development and Housing Challenge Program 8/6/2015 Minnesota Housing does not discriminate on the basis of race, color, creed, national origin, sex, religion, marital status, status with regard

More information

747 Market Street, Room 900 * Tacoma, WA. 98402-3793 * (253) 591-5221 * Fax (253) 591-5180 * www.cityoftacoma.org

747 Market Street, Room 900 * Tacoma, WA. 98402-3793 * (253) 591-5221 * Fax (253) 591-5180 * www.cityoftacoma.org 747 Market Street, Room 900 * Tacoma, WA. 98402-3793 * (253) 591-5221 * Fax (253) 591-5180 * www.cityoftacoma.org February 13, 2015 RESPONSES DUE BY 5:00 PM FRIDAY, MARCH 13, 2015 REQUEST FOR PROPOSALS

More information

CITY OF WINCHESTER ECONOMIC DEVELOPMENT AUTHORITY REAL ESTATE DEVELOPMENT REVOLVING LOAN FUND PROGRAM POLICIES AND PROCEDURES MANUAL.

CITY OF WINCHESTER ECONOMIC DEVELOPMENT AUTHORITY REAL ESTATE DEVELOPMENT REVOLVING LOAN FUND PROGRAM POLICIES AND PROCEDURES MANUAL. CITY OF WINCHESTER ECONOMIC DEVELOPMENT AUTHORITY REAL ESTATE DEVELOPMENT REVOLVING LOAN FUND PROGRAM POLICIES AND PROCEDURES MANUAL Date: July 2010 TABLE OF CONTENTS Section 1: GENERAL PROVISIONS Page

More information

Revolving Loan Fund for Industrial Development Summary *

Revolving Loan Fund for Industrial Development Summary * Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Industrial Development Summary * Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

PITTSBURGH DEVELOPMENT FUND (PDF)

PITTSBURGH DEVELOPMENT FUND (PDF) PITTSBURGH DEVELOPMENT FUND (PDF) I. STATEMENT OF PURPOSE The Pittsburgh Development Fund (PDF) is designed to provide gap funding for small- to medium-sized real estate developments and fixed-asset lending.

More information

Brooklyn Park Economic Development Authority

Brooklyn Park Economic Development Authority Brooklyn Park Economic Development Authority Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB Program Description & Guidelines July 2011 TABLE

More information

Swift County Loan Program Guidelines and Application

Swift County Loan Program Guidelines and Application Swift County Rural Development Authority 1228 Atlantic Ave Benson MN 56215 Swift County Loan Program Guidelines and Application Swift County RDA 1228 Atlantic Ave Benson MN 56215 320-842-4769 rda@co.swift.mn.us

More information

CDA BLF LOAN APPLICATION

CDA BLF LOAN APPLICATION CDA BLF LOAN APPLICATION Name of of Business (Legal Name): Address: City, State, Zip: Business Phone // Fax: Federal Tax ID#: Principals Principal 1 Principal 2 Name: Address: City, State, Zip: Phone:

More information

TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program

TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program Department of Economic Development Sec. 32-23z page 1 (9-97) TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program Definitions... 32-23z-1 Application requirements... 32-23z-2 Procedures

More information

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase

More information

USDA Business & Industry (B&I) Guaranteed Loan Program

USDA Business & Industry (B&I) Guaranteed Loan Program USDA Business & Industry (B&I) Guaranteed Loan Program B&I Program To Create And Maintain Employment And Improve Economic And Environmental Climate In Rural Communities Administered By The Rural Business

More information

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM The State of New

More information

COMMUNITY ACQUISITION REHABILITATION LOAN CARL CARL TERM SHEET AND GUIDELINES

COMMUNITY ACQUISITION REHABILITATION LOAN CARL CARL TERM SHEET AND GUIDELINES COMMUNITY ACQUISITION REHABILITATION LOAN I. PROGRAM OBJECTIVE CARL CARL TERM SHEET AND GUIDELINES URBAN REDEVELOPMENT AUTHORITY OF PITTSBURGH PITTSBURGH COMMUNITY REINVESTMENT GROUP The main objective

More information

Enterprise Development Loan (EDL) Program

Enterprise Development Loan (EDL) Program Enterprise Development Loan (EDL) Program Statement of Purpose The Enterprise Development Loan (EDL) program is intended to encourage private lenders to provide credit to firms that have difficulty securing

More information

THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA DATE: DECEMBER 16, 2004 C9 2010 ROBERT R. OVROM, CHIEF EXECUTIVE OFFICER

THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA DATE: DECEMBER 16, 2004 C9 2010 ROBERT R. OVROM, CHIEF EXECUTIVE OFFICER THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA REVISED Pg. 3 as underlined and Attachment C as underlined, also deleting #10 & 11 M E M O R A N D U M 17 DATE: DECEMBER 16, 2004

More information

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc.

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc. Multi-family Affordable Housing Capital Solutions Becky Christoffersen, Midwest Housing Development Fund, Inc. Midwest Housing Development Fund, Inc. CDFI since 2000 Revolving loan fund Affordable Housing

More information

Vacant Properties Rehabilitation Program

Vacant Properties Rehabilitation Program City of Columbus Department of Development Housing Division Vacant Properties Rehabilitation Program Redevelopment for Homeownership/ Lease-Purchase Guidelines Capital Bond Funds Home Funds NSP 1, 2, 3

More information

BILL ANALYSIS. Senate Research Center S.B. 173 By: Patterson State Affairs 3-24-97 Committee Report (Amended)

BILL ANALYSIS. Senate Research Center S.B. 173 By: Patterson State Affairs 3-24-97 Committee Report (Amended) BILL ANALYSIS Senate Research Center S.B. 173 By: Patterson State Affairs 3-24-97 Committee Report (Amended) DIGEST Currently, the Texas Constitution prohibits the use of equity in a home for collateral

More information

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER Special Attention of All Multifamily Hub Directors Notice H 2011-05

More information

BUSINESS AND INDUSTRY (B&I) LOAN GUARANTEE

BUSINESS AND INDUSTRY (B&I) LOAN GUARANTEE Rural Development Business & Cooperative Programs www.rurdev.usda.gov/ma Southern New England State Office 451 West Street, Suite 2 Amherst, MA 01002 Phone: 413-253-4300 Fax: 413-253-4347 Norwich Area

More information

CITY OF LOMPOC ECONOMIC DEVELOPMENT PROGRAM REVOLVING LOAN FUND 2015 (COMMERCIAL AND INDUSTRIAL PROJECTS)

CITY OF LOMPOC ECONOMIC DEVELOPMENT PROGRAM REVOLVING LOAN FUND 2015 (COMMERCIAL AND INDUSTRIAL PROJECTS) CITY OF LOMPOC ECONOMIC DEVELOPMENT PROGRAM REVOLVING LOAN FUND 2015 (COMMERCIAL AND INDUSTRIAL PROJECTS) The City of Lompoc provides federal Community Development Block Grant ( CDBG ) funds for eligible

More information

SBA 504 Loan Program Lender s Guide

SBA 504 Loan Program Lender s Guide Eligible Use of Proceeds: Land acquisition and improvements New construction Purchase of existing building(s) Renovations to existing building(s) Purchase of Machinery and Equipment (minimum of 10 years

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

SBA 504 Loan Program FACT SHEET

SBA 504 Loan Program FACT SHEET SBA 504 Loan Program FACT SHEET The Oakland County Business Finance Corporation (OCBFC) was certified under the Small Business Administration's (SBA) Certified Development Company program in September

More information

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE GLENVILLE LOCAL DEVELOPMENT CORPORATION BUSINESS ASSISTANCE LOAN PROGRAM GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE Prepared by: Shelter Planning & Development, Inc. 94 Glenwood Avenue Queensbury, NY 12804

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

ECONOMIC RECOVERY BOARD FOR CAMDEN

ECONOMIC RECOVERY BOARD FOR CAMDEN ECONOMIC RECOVERY BOARD FOR CAMDEN GUIDE TO PROGRAM FUNDS April 2012 The Economic Recovery Board for Camden ( ERB ) is a subsidiary of the New Jersey Economic Development Authority. For further information

More information

NCUA Final Rule. Loans in Areas Having Special Flood Hazards

NCUA Final Rule. Loans in Areas Having Special Flood Hazards NCUA Final Rule Loans in Areas Having Special Flood Hazards November 13, 2015 NCUA Final Rule Loans in Areas Having Special Flood Hazards TABLE OF CONTENTS Summary Analysis of the Final Rule 1 Detailed

More information

1 MINNESOTA STATUTES 2015 47.58

1 MINNESOTA STATUTES 2015 47.58 1 MINNESOTA STATUTES 2015 47.58 47.58 REVERSE MORTGAGE LOANS. Subdivision 1. Definitions. For the purposes of this section, the terms defined in this subdivision have the meanings given them. (a) "Reverse

More information

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION October, 1999 Revolving Loan Fund Guidelines City of Redwood Falls The purpose of the Revolving Loan Fund (RLF) is to provide

More information

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA A Program Financed Under the U.S. Department of Housing & Urban Development Section 108 Loan Program in Association with the U.S Small

More information

Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown

Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown The Greater Chestertown Initiative (GCI) Revolving Loan Fund was established by the GCI and SFW Foundation to

More information

West Valley City Grants Department Rehabilitation Loan Program Policy & Information Packet

West Valley City Grants Department Rehabilitation Loan Program Policy & Information Packet West Valley City Grants Department Rehabilitation Loan Program Policy & Information Packet Current Revision: 9/09 1 CONTENTS REHABILITATION LOAN PROGRAM (RLP) POLICY: Section I Section II Section III Section

More information

FAIRM. Economic Development Authority. Revolving Loan Fund Guidelines

FAIRM. Economic Development Authority. Revolving Loan Fund Guidelines Revolving Loan Fund Guidelines The Fairmont 's Revolving Loan Fund is available within the City Limits of Fairmont, Minnesota. The program works in partnership with local lending institutions to help 'fill

More information

ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND

ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND APPLICATION Return Application To: Hutchinson Economic Development Authority 111 Hassan Street SE Hutchinson MN 55350 Email: edadirector@ci.hutchinson.mn.us

More information

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS 7605B/7601 ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS Revised October 1999 University of Wisconsin System This publication has been developed by the Wisconsin SBDC in partnership with the U.

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

WESTERN REGION CORPROATION

WESTERN REGION CORPROATION WESTERN REGION CORPORATION Buffalo, New York 14203 (716) 945-5301 WESTERN REGION CORPROATION REGIONAL REVOLVING LOAN TRUST FUND (RRLTF) General Description Administered by: Western Region Corporation Buffalo,

More information

MORTGAGE LOAN DISCLOSURE STATEMENT GOOD FAITH ESTIMATE NONTRADITIONAL MORTGAGE LOAN PRODUCT (ONE TO FOUR RESIDENTIAL UNITS (RE885) INFORMATIONAL SHEET

MORTGAGE LOAN DISCLOSURE STATEMENT GOOD FAITH ESTIMATE NONTRADITIONAL MORTGAGE LOAN PRODUCT (ONE TO FOUR RESIDENTIAL UNITS (RE885) INFORMATIONAL SHEET MORTGAGE LOAN DISCLOSURE STATEMENT GOOD FAITH ESTIMATE NONTRADITIONAL MORTGAGE LOAN PRODUCT (ONE TO FOUR RESIDENTIAL UNITS (RE885) INFORMATIONAL SHEET WHEN TO USE THIS FORM NONTRADITIONAL LOAN PRODUCTS

More information

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC Fund for Economic Development Program Criteria K:\WORD\FORMS\Loan Application\CRITERIA02.DOC VINELAND s URBAN ENTERPRISE ZONE LOAN PROGRAMS I. Introduction The Vineland Urban Enterprise Zone ( UEZ ) was

More information

MicroLOAN SOUTH DAKOTA Building South Dakota Communities POLICIES AND PROCEDURES

MicroLOAN SOUTH DAKOTA Building South Dakota Communities POLICIES AND PROCEDURES MicroLOAN SOUTH DAKOTA Building South Dakota Communities POLICIES AND PROCEDURES A PARTNERSHIP BETWEEEN THE REVOLVING ECONOMIC DEVELOPMENT INITIATIVE FUND, SOUTH DAKOTA DEVELOPMENT CORPORATION AND THE

More information

Community Planning and Development. All Regional Directors for CPD Issued: May 19, 1989. All CPD Division Directors Expires: May 19, 1990

Community Planning and Development. All Regional Directors for CPD Issued: May 19, 1989. All CPD Division Directors Expires: May 19, 1990 1 U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD-89-33 All Regional Administrators All Regional Directors for CPD Issued: May 19,

More information

BUSINESS INCENTIVE PROGRAM POLICIES. Table of Contents

BUSINESS INCENTIVE PROGRAM POLICIES. Table of Contents BUSINESS INCENTIVE PROGRAM POLICIES Table of Contents I. Introduction 2 II. Purpose 2 III. Eligible Participants 2 IV. Ineligible Participants 2 V. Eligible Properties 3 VI. Eligible Activities 3 VII.

More information

APPENDIX C. RESIDENTIAL REHABILITATION LOAN PROGRAM REHABILITATION AGREEMENT (This signed form must accompany the loan application)

APPENDIX C. RESIDENTIAL REHABILITATION LOAN PROGRAM REHABILITATION AGREEMENT (This signed form must accompany the loan application) APPENDIX C RESIDENTIAL REHABILITATION LOAN PROGRAM REHABILITATION AGREEMENT (This signed form must accompany the loan application) The applicant must agree to these Terms and Conditions in order to obtain

More information

MORTGAGE LOAN DISCLOSURE STATEMENT GOOD FAITH ESTIMATE NONTRADITIONAL MORTGAGE LOAN PRODUCT (ONE TO FOUR RESIDENTIAL UNITS (RE885) INFORMATIONAL SHEET

MORTGAGE LOAN DISCLOSURE STATEMENT GOOD FAITH ESTIMATE NONTRADITIONAL MORTGAGE LOAN PRODUCT (ONE TO FOUR RESIDENTIAL UNITS (RE885) INFORMATIONAL SHEET The fields in this document are filled in by Mortgage+Care Loan Origination Software. Please contact us at (800)481-2708 or www.mortcare.com for a list of mergeable documents. MORTGAGE LOAN DISCLOSURE

More information

FROM: Tammye Treviño (Signed by Tammye Treviño) Administrator Housing and Community Facilities Programs

FROM: Tammye Treviño (Signed by Tammye Treviño) Administrator Housing and Community Facilities Programs RD AN No. 4635 (1980-D) April 2, 2012 TO: State Directors Rural Development ATTENTION: Rural Housing Program Directors, Guaranteed Loan Coordinators, Area Directors and Area Specialists FROM: Tammye Treviño

More information

OBERLIN BUSINESS ASSISTANCE REVOLVING LOAN PROGRAM

OBERLIN BUSINESS ASSISTANCE REVOLVING LOAN PROGRAM OBERLIN BUSINESS ASSISTANCE REVOLVING LOAN PROGRAM Guidelines & Application Form Oberlin Community Improvement Corporation 85 South Main Street Oberlin, OH 44074 OBERLIN BUSINESS ASSISTANCE REVOLVING LOAN

More information

Factsheet} Kentucky Collateral Support Program (KYCSP)

Factsheet} Kentucky Collateral Support Program (KYCSP) The Kentucky Collateral Support Program (KYCSP) (the Program ) provides a pledged asset (cash collateral account) to an enrolled lender of up to twenty percent (20%) of their loan in order to enhance the

More information

Financing Downtown Businesses

Financing Downtown Businesses Financing Downtown Businesses Presented by: David Kircher 1 Wisconsin Business Development Finance Corporation Certified Development Company Authorized to work with SBA 504 Program Fixed Asset Financing

More information

Debt Policy. I. Purpose of the Debt Policy

Debt Policy. I. Purpose of the Debt Policy Debt Policy I. Purpose of the Debt Policy In support of its mission, (University) maintains a long term strategic plan. The strategic plan establishes University wide priorities as well as divisional programmatic

More information

PASS-THROUGH SHORT-TERM BOND PROGRAM. (Debt Financing Under Section 44c of the Authority's Act)

PASS-THROUGH SHORT-TERM BOND PROGRAM. (Debt Financing Under Section 44c of the Authority's Act) PASS-THROUGH SHORT-TERM BOND PROGRAM (Debt Financing Under Section 44c of the Authority's Act) The Authority s Act permits the Michigan State Housing Development Authority (the Authority ) to participate

More information

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS THE OXBRIDGE FHA FACILITY FHA TERM SHEETS Set forth below are the various types of FHA Loans for which the Oxbridge FHA Facility will provide GAP funding (i.e. funding of borrower equity requirement) to

More information

Benton County Business Loan Fund Eligibility: Conditions of the Loan: Financial Structure: Collateral: Application Process:

Benton County Business Loan Fund Eligibility: Conditions of the Loan: Financial Structure: Collateral: Application Process: Benton County Business Loan Fund Eligibility: Eligible loan applicants are manufacturing and service business located anywhere in Benton County. Funding is limited in St. Cloud due to the county s loan

More information

COEUR D ALENE TRIBAL HOUSING AUTHORITY HOUSING REHABILITATION POLICY (CDTHA REHAB)

COEUR D ALENE TRIBAL HOUSING AUTHORITY HOUSING REHABILITATION POLICY (CDTHA REHAB) COEUR D ALENE TRIBAL HOUSING AUTHORITY HOUSING REHABILITATION POLICY (CDTHA REHAB) Adopted by the Housing Board May 25, 2005 CDTHA HOUSING REHAB POLICY Programs Available... 3 Reconstruction... 3 Relocation/Displacement...

More information

SWNCBC OOR Program Guidelines 1

SWNCBC OOR Program Guidelines 1 Southwest Nebraska Community Betterment Corporation (SWNCBC) Owner Occupied Rehabilitation Program Guidelines Amended January 20, 2011 PURPOSE : To promote safe, affordable and appropriate housing in the

More information

Arkansas Development Finance Authority, a Component Unit of the State of Arkansas

Arkansas Development Finance Authority, a Component Unit of the State of Arkansas Arkansas Development Finance Authority, a Component Unit of the State of Arkansas Combined Financial Statements and Additional Information for the Year Ended June 30, 2000, and Independent Auditors Report

More information

COMMERCIAL REHABILITATION LOAN PROGRAM

COMMERCIAL REHABILITATION LOAN PROGRAM COMMERCIAL REHABILITATION LOAN PROGRAM The purpose of this program is to provide low interest financial assistance to commercial/retail businesses to stimulate private investment, increase the property

More information

CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND

CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND Dear Applicant: The Commercial Revolving Loan Program is an economic development tool administered by the City of Tullahoma. The program provides loans

More information

HOUSING ASSISTANCE REHABILITATION PROGRAM (HARP)

HOUSING ASSISTANCE REHABILITATION PROGRAM (HARP) HOUSING ASSISTANCE REHABILITATION PROGRAM (HARP) PURPOSE The Housing Assistance Rehabilitation Program (HARP) provides loans and assistance for the rehabilitation and reconstruction of substandard and

More information

- 1 - Neighborhood Stabilization Program Information Summary Sheet

- 1 - Neighborhood Stabilization Program Information Summary Sheet - 1 - Neighborhood Stabilization Program Information Summary Sheet Eligible Uses: Purchase and rehab abandoned or foreclosed homes and residential properties. Establishing financing mechanisms for purchase

More information

Extending Credit. Credit Extension 3-1. Other RECEIVE APPLICATION. Credit. History SCREEN PROSPECTIVE BORROWERS CAIVRS, DEBT CHECK.

Extending Credit. Credit Extension 3-1. Other RECEIVE APPLICATION. Credit. History SCREEN PROSPECTIVE BORROWERS CAIVRS, DEBT CHECK. hapter 3 redit Extension Extending redit This hapter details how Federal agencies and lenders participating in guaranteed loan programs (guaranteed loan lenders) should manage, process, evaluate, and document

More information

MICRO LOAN PROGRAM LOCAL COMMITTEE MANUAL APRIL, 2014

MICRO LOAN PROGRAM LOCAL COMMITTEE MANUAL APRIL, 2014 MICRO LOAN PROGRAM LOCAL COMMITTEE MANUAL APRIL, 2014 Regional business fund, inc. FOR MORE INFORMATION CONTACT: REGIONAL BUSINESS FUND, INC. 800 WISCONSIN STREET, MAIL BOX 9 EAU CLAIRE, WI 54703 Phone:

More information

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #:

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #: LOAN APPLICATION Name of Business (Legal Name): Business Phone: Federal Tax ID #: Fax: Principals Name: Phone: Social Security #: Type of Business Sole Proprietorship Corporation Partnership Date Established

More information

Revolving Loan Fund Application Package

Revolving Loan Fund Application Package Revolving Loan Fund Application Package The Village of Machesney Park Revolving Loan Program provides direct financing to businesses at a below market, fixed rate of interest in cooperation with loans

More information

HUD Mortgage Insurance Program Section 232 LEAN

HUD Mortgage Insurance Program Section 232 LEAN HUD Mortgage Insurance Program Section 232 LEAN Skilled Nursing, Intermediate Care, Assisted Living, Board & Care Benefits: The LEAN program offers more efficient processing through a centralized application,

More information

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE The purpose of this plan is to establish policies, application forms, approval procedures, and administrative support for

More information

Project Financing Tools

Project Financing Tools OVERVIEW The City of Ramsey has a number of financial tools available for economic development projects. In general, tools include gap financing loans, SBA loans/loan guarantees and project based local

More information

18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS AND FINANCIAL LIABILITIES I. GENERAL PROVISIONS

18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS AND FINANCIAL LIABILITIES I. GENERAL PROVISIONS APPROVED by Resolution No. 11 of 27 October 2004 of the Standards Board of the Public Establishment the Institute of Accounting of the Republic of Lithuania 18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

COMMERCIAL LOAN APPLICATION

COMMERCIAL LOAN APPLICATION COMMERCIAL LOAN APPLICATION Thank you for considering Enterprise National Bank N.J. for your commercial loan needs. This application along with other information you supply will provide us with the information

More information

Innovation Ohio Loan Program. Program Guidelines & Application Process

Innovation Ohio Loan Program. Program Guidelines & Application Process Innovation Ohio Loan Program Program Guidelines & Application Process Ohio Department of Development Strategic Business Investment Division Loans & Servicing Office 77 South High Street, 28 th Floor Columbus,

More information

Solar Energy Program. Program Guidelines September 2009. > ready > set > succeed. newpa.com

Solar Energy Program. Program Guidelines September 2009. > ready > set > succeed. newpa.com Solar Energy Program Program Guidelines September 2009 > ready > set > succeed newpa.com Table of Contents Section I Statement of Purpose...............................................1 Section II Eligibility..........................................................1

More information

Neighborhood BusinessWorks Loan Program Fact Sheet

Neighborhood BusinessWorks Loan Program Fact Sheet Maryland Department of Housing & Community Development Division of Neighborhood Revitalization Martin O Malley Governor Anthony G. Brown Lt. Governor Neighborhood BusinessWorks Loan Program Fact Sheet

More information