CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION
|
|
- Barnaby Perry
- 7 years ago
- Views:
Transcription
1 CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION October, 1999
2 Revolving Loan Fund Guidelines City of Redwood Falls The purpose of the Revolving Loan Fund (RLF) is to provide financial assistance for new and existing industrial, manufacturing and for certain types of new commercial businesses located or locating in Redwood Falls. Targeted Areas in Redwood Falls 1. Industrial Parks 2. Other Industrial Zoned Areas 3. Other Commercially Zoned Areas Types of Assistance 1. Existing Industrial Expansion defined as industrial related expansion and costs related thereto, including land and building acquisition and public facility improvements. 2. Development of New Industries and Businesses Defined as the establishment of new industrial and new commercial businesses in all phases, including land and building acquisition and construction, remodeling and equipment. 3. Industrial and Business Equipment Acquisition defined as the purchase of additional depreciable assets for the purpose of expanding industrial and commercial activities. Criteria for Use of RLF Funds: 1. Equity Requirements- An applicant s equity participation must equal at least five and preferably ten percent of the total fixed assets of the business after the new loans and acquired assets, if any, are included. 2. Collateral Position RLF loans will be in a junior or shared collateral position to the major source of project financing. 3. Loan Term The term of a loan should coincide with the term of the private portion of the loan but may be shorter or longer, depending on the circumstances. 4. Interest Rate The interest rate on the direct RLF loan will be three to five points below the going treasury rate, but under no circumstances shall the interest rate be lower than four percent. 1.
3 5. Accelerated Payments The loans should be structured so that the principal amount of the loan would be due and payable upon default or in the event that the industry or business leaves the corporate limits of the City of Redwood Falls. Prepayment discounts may be negotiated. 6. Eligible Costs See 11 (d) on page Private-Public Ratio The minimum leverage ratio shall be two to one, private debt and/or assets to RLF debt. The Redwood Falls Port Authority may at their discretion modify the private-public ratio when a project demonstrates significant community impact. 8. Transfer of Ownership RLF proceeds cannot be used to transfer ownership through acquisition of fixed assets unless the transfer results in a physical remodeling or expansion project approved by the Redwood Falls Port Authority. 9. Selection Criteria A primary objective of this program will be the creation or retention of new livable wage jobs within the City of Redwood Falls. The job/cost ratio for each project should be $15,000 that can be borrowed by the applicant for each Full Time Equivalent (FTE) position. A majority of the jobs created or retained should be made available to low and moderate income persons. 10. Loan Review Committee Applications will be reviewed by a loan committee consisting of the Economic Development Authority and RADC Economic Development Specialist. The loan committee will review the application and award or decline the loan request by a simple majority vote. Loan awards greater than $50,000 will require approval from the Redwood Falls City Council. The Redwood Falls Port Authority will be responsible for making arrangements with the City Attorney to process the legal documents before loan funds are disbursed. 11. Other Requirements a) Maximum loan amount will be $50,000. b) Applicant must meet the underwriting criteria and have a recommendation from a primary lender. c) Cash flow must be adequate to cover all indebtedness. d) Eligible costs include land, buildings, fixtures, equipment, operating capital and public infrastructure improvements. Assets pledged as collateral must be approved by both the City and the primary lender and may include land, buildings, fixtures, machinery, equipment, inventory and accounts receivable. e) Applicant must provide current financial records of the company, including 3 years of historical financials of balance sheets, profit/loss and cash flow statements. New companies must provide adequate pro-forma financial statements. f) Applicant must provide a complete business plan. Assistance can be provided at the RADC. g) Applicant must provide valid bids or quotes for the proposed project. 2.
4 12. Other h) Applicant must pay a non-refundable processing fee of 1% of the requested principal to the City of Redwood Falls. i) Revolving Loan Fund must not be used to transfer ownership through acquisition of fixed assets unless the transfer results in commercial/industrial expansion approved by the City. j) Revolving loan funds must not be used to refinance existing debt. a) Applicant agrees to hold the loan committee, City Council and Mayor harmless in the event of an error or omission in the processing of an application. b) The loan committee cannot guarantee the confidentiality of any information it receives and the applicant acknowledges that any information received may be disclosed to the public. c) The loan committee or the City Council may waive any of the requirements contained herein, whenever the best interests of the City would be served. The reason for any waiver must be noted specifically. d) Each loan applicant will be judged individually, based on it s own particular set of circumstances. 13. Business Subsidy Compliance (MN Statutes, Sections 116J J.995) The purpose of this compliance section is to determine that assistance provided to a for-profit business in excess of $25,000 is actually needed to make the project work and is not excessive in the amount of assistance. In order to accomplish this determination, for-profit businesses applying to the RLF shall provide the following items listed in the check list for all Redwood Falls Port Authority applicants. Your application for revolving loan fund financing will not be considered until all application check list items have been submitted. 1. Signed and dated application 2. A complete business plan including market analysis and management plan. 3. If an existing business, 3 years historical financial information Including balance sheets, income statements and cash flows, and complete tax returns. If a sole proprietorship, applicant must submit a complete Schedule C and depreciation schedule. 4. If a new company, pro-forma balance sheets, income statements and cash flow statements for the next 2 years. Include a complete list of assumptions for each statement. 5. Schedule of debts, listing Notes, Mortgages and Contracts payable. 6. If an existing business, aging of accounts receivable/payable. 7. Signed and dated Personal Financial Statement not over 90 days old. 3.
5 8. Detailed use of funds (working capital, equipment quotes, land appraisal, other assets being offered as collateral, etc.) 9. Copy of any Purchase Agreement or other pertinent agreements. 10. Explanation of source of funds in the event of cost overruns. 11. Letter(s) from committed sources of funds from Primary Lender or other lenders. 12. Other information not listed above that may assist the Redwood Falls Port Authority in making a credit decision. The Port Authority will also require information necessary to allow them to make the following determinations: a) Whether project costs are reasonable in comparison to similar projects or industry standards. b) Whether pro-forma projections are reasonable when compared with historical data (if any) or with industry standards (i.e., RMA, etc.) c) Documentation of private and bank funds that are committed to project costs. d) Terms of any loan proceeds that are part of project. e) Documentation that a financing gap exists and financial assistance is necessary. f) Documentation that the rate of return is unsatisfactory and financial assistance is required to improve said rate of return. g) Demonstration that a location preference of Redwood Falls versus some other community (in State or out of State) exists and financial incentives are necessary to cause the project to remain in Redwood Falls. (Note that items e, f, and g, will be required to the extent they are the basis for the request for assistance. Further, the Port Authority may waive, in certain instances, some information and documentation required as may, in a certain instance, require additional documentation or information for matters not covered above. The attached Form will be used to aid the Port Authority in determining whether the project is necessary or appropriate. 14. Other Business Subsidy Requirements a) In the event the RLF funds are used that are subject to Program Income requirements, the HUD Program Income Regulations will be followed. b) In the event RLF funds are used that are subject to Davis-Bacon Requirements, businesses assisted will be so informed and the Port Authority will be responsible to insure that Davis-Bacon Guidelines are complied with. c) Businesses assisted with RLF funds must provide valid bids for construction work to be done or equipment to be acquired in whole or in part with RLF funds to verify cost effectiveness. 4.
6 Review of Public Benefit Analysis 1. Describe the nature and amount of the public benefit (i.e., jobs, taxes, other development, etc.) claimed as justification for the project Conclusion A necessary or appropriate analysis was conducted by the grantee or a sub recipient which appears to support the conclusion that the amount of RLF assistance provided was reasonable, taking into account both the actual needs of the business in making the project financially feasible and the extent of public benefit reasonably anticipated? Yes No If no explain: 5.
7 REVOLVING LOAN APPLICATION CITY OF REDWOOD FALLS FEDERAL I.D. # STATE I.D. # APPLICANT: d/b/a: ADDRESS: BUSINESS PHONE: HOME PHONE: CELL # CONTACT PERSON: (If different from applicant) COST OF PROJECT: (If Applicable) Check Cost_ New Business Start-Up Existing Business Expansion New Construction Inventory Purchase Machinery & Equipment Purchase Working Capital Renovation or Remodeling Purchase Building TOTAL DOLLAR PROPOSED COLLATERAL PROPOSED FINANCING AMOUNT RATE/TERM OFFERED Applicant Contribution Local Revolving Loan Fund % / YRS Financial Institution % / YRS State of Minnesota % / YRS Other Sources % / YRS TOTAL.. 6.
8 SUMMARY OF MONEY NEEDED 1. Land Cost $ 2. Building Cost 3. Machinery & Equipment 4. Furniture & Fixtures 5. Leasehold Improvements 6. Inventory 7. Franchise Fees 8. Franchise Signs 9. Debt Payments 10. Accounts Payable Payments 11. Fees and Miscellaneous Expenses A. B. C. 12. Cash as Working Capital TOTAL $ Amount of the loan request Amount invested by you as equity (if new business) Source of equity $ $ Employment: Current number of employees Full-time Part-time Jobs retained Full-time Part-time New jobs created as a result of project Full-time Part-time Salary range for these jobs $ /hour to $ /hour and/or $ /year to $ /year 7.
9 Applicant Signature Form: 1. Items listed on the City of Redwood Falls RLF Application Guidelines are agreed to herein submitted. 2. Applicant certifies that all information contained in this application and all information offered in support of this application is true and complete to the best of my/our knowledge and belief. 3. Applicant agrees that verification may be obtained from any source named. 4. Applicant agrees that a personal and business credit report may be obtained 5. Applicant agrees that a personal background check may be conducted. 6. Applicant certifies that he/she understands and agrees to abide by the requirement that the number of jobs proposed to be retained or created be done so within 18 months of loan closing with a majority of those jobs being made available to low and moderate income persons. Business Name CEO Name Date Signature of other principals involved in the business: 8.
10 PERSONAL FINANCIAL STATEMENT (To be obtained from the Small Business Administration) Form # 413
11 BANK S APPRAISAL BORROWER: ADDRESS: Bank s Estimated Value of Collateral Business Land & Buildings Dollar Amount of Prior Liens After Applying Loan Funds Machinery & Equipment Furniture & Fixtures Automotive Equipment Inventory Accounts Receivable (Current Receivables Only) Other TOTAL VALUE In Bank s opinion, Collateral is is not reasonably adequate to secure this loan. COMMENTS (If any): Bank Signature Title Date:
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 informationRevolving 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 informationCDA 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 informationECONOMIC 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 informationRevolving 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 informationCity of Avon, MN Revolving Loan (RLF) Application
City of Avon, MN Revolving Loan (RLF) Application LARGE LOAN APPLICATION 140 Stratford Street East INSTRUCTIONS: This application is for loans greater than or equal to 8,001. Please read the Revolving
More informationAPPLICATION FORMAT SOUTHEAST MISSOURI REGIONAL PLANNING AND ECONOMICAL DEVELOPMENT COMMISSION REVOLVING LOAN FUND PROGRAM
APPLICATION FORMAT SOUTHEAST MISSOURI REGIONAL PLANNING AND ECONOMICAL DEVELOPMENT COMMISSION REVOLVING LOAN FUND PROGRAM SECTION 1 Loan Application. SECTION 2 Information on business to be assisted-past
More informationFAIRM. 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 informationSwift 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 informationSMALL 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 informationGUIDELINES 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 informationEnterprise 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 informationBenton 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 informationROSEAU 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 informationRevolving 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 informationEDA Revolving Loan Fund
EDA Revolving Loan Fund Purpose: To encourage small business development and expansion by local manufacturers. Eligibility: Companies in manufacturing or service industries that will create new jobs are
More informationSouthwest Initiative Foundation LOAN PROGRAMS APPLICATION
Southwest Initiative Foundation LOAN PROGRAMS APPLICATION I. Basic Information: Business Name Address City Zip Contact Person Telephone # E-mail Address Website Social Security # -or- Fed ID # Does your
More informationMICRO-ENTERPRISE/BUSINESS GROWTH BUSINESS LOAN FUND PROGRAM GUIDELINES AND LOAN APPLICATION
MICRO-ENTERPRISE/BUSINESS GROWTH BUSINESS LOAN FUND PROGRAM GUIDELINES AND LOAN APPLICATION ADMINISTERED BY: Southeastern Utah Association of Local Governments (SEUALG) 375 S Carbon Ave - Price, UT 84501
More informationSERF Loan Application. (Spearfish Economic Revolving Fund)
SERF Loan Application (Spearfish Economic Revolving Fund) SERF Loan Application Checklist Copies of the items listed below must be submitted to SEDC before action can be taken on your loan request. Application
More informationCITY 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 informationKENDALL-GRUNDY COMMUNITY ACTION MICRO-LOAN PRELIMINARY APPLICATION
KENDALL-GRUNDY COMMUNITY ACTION MICRO-LOAN PRELIMINARY APPLICATION The Kendall-Grundy Department of Community Action has established the CSBG Micro-Loan Program to assist in financing micro-businesses
More informationHow To Get A Loan From The Oil Region Enterprise Zone
OIL REGION ENTERPRISE ZONE REVOLVING LOAN PROGRAM Attached is a copy of the Oil Region Enterprise Zone (OREZ) loan application. What follows is some basic information regarding the program. Please review
More information3600 86th Street Urbandale, IA 50322 515.278.3900 Urbandale.org CITY OF URBANDALE REVOLVING LOAN FUND (RLF) APPLICATION
360086thStreet Urbandale,IA 50322 515.278.3900 Urbandale.org CITY OF URBANDALE REVOLVING LOAN FUND (RLF) APPLICATION PROJECT IDENTIFICATION Company Name Project Name Contact Person Telephone Number Email
More informationElements of a Successful Corporate Loan Application
ECONOMIC DEVELOPMENT LOAN APPLICATION GENERAL INSTRUCTIONS Place an X by the public financing program(s) to which your business is applying. Bettendorf: Revolving Loan Fund Bi-State Regional Commission:
More informationUSDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113
USDA IRP LOAN FUND Prospera s Intermediary Relending Program Revolving Loan Fund ( IRP Loan Fund ) provides financing to businesses located in Gallatin County and Park County. Prospera s IRP Loan Fund
More informationBUSINESS REVOLVING LOAN FUND MANAGEMENT PLAN. Pending Approval by City Council
BUSINESS REVOLVING LOAN FUND MANAGEMENT PLAN Pending Approval by City Council TABLE OF CONTENTS A. Purposes of the Revolving Loan Fund B. Limitations C. Administration D. Operational Guidelines E. Application
More informationNext Generation Revolving Loan Fund
Next Generation Revolving Loan Fund INTRODUCTION: The purpose of these documents is to provide guidelines for the award and processing of applications to the Next Generation Revolving Loan Fund. A five-member
More informationREGULATION 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 informationTOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518
TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 Dale Kroop, Director TO ALL INTERESTED LOAN APPLICANTS NOTICE OF AVAILABLE FUNDS SMALL
More informationAll About Loan Funding in Iowa
RULES & APPLICATION INFORMATION REVOLVING LOAN FUND Allamakee County, Iowa (There will be a $50 application fee due to ACED and a $10 UCC filing fee to the Auditor s Office at the date of closing) PURPOSE
More informationBUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION Thank you for your decision in obtaining a commercial loan from our business service division. Please complete the following information as accurately as possible so we may better
More informationRural Business Enterprise Loan Program (RBE)
Courthouse PO Box 607 Carlton, MN 55718 Rural Business Enterprise Loan Program (RBE) Mailing Address: Carlton County Economic Development Office PO Box 607 Carlton, MN 55718 (218) 384-9597 or (218)384-9564
More informationDEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY
DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY The Revolving Loan Fund (RLF) program is designated to make direct business loans with other financing sources (public sector loans, governmental
More informationZUMBROTA ECONOMIC DEVELOPMENT AUTHORITY BUSINESS DEVELOPMENT LOAN FUND
ZUMBROTA ECONOMIC DEVELOPMENT AUTHORITY BUSINESS DEVELOPMENT LOAN FUND I. OBJECTIVES To provide direct, subordinated low-interest loans to new businesses and existing businesses contemplating expansion.
More informationName of Business (Legal Name) Business Address City State Zip. County Website Address
Business Finance Program APPLICATION Amount of Loan Requested: $ Total Cost of Project: $ Name of Business (Legal Name) Business Address City State Zip County Website Address _ Business Phone Federal Tax
More informationWELLS COUNTY ECONOMIC DEVELOPMENT SMALL BUSINESS REVOLVING LOAN FUND PROGRAM
WELLS COUNTY ECONOMIC DEVELOPMENT SMALL BUSINESS REVOLVING LOAN FUND PROGRAM Wells County Economic Development has developed a revolving loan fund program through a grant from the United States Department
More informationLiftFund (CDC) 504 Checklist and Loan Application
1. 2. LiftFund (CDC) 504 Checklist and Loan Application Copy of photo ID (Driver license) History of the Business. (Business Plan for start-ups.) Equal Opportunity Lender 3. Current personal financial
More informationBusiness Planning Worksheets
Business Planning Worksheets Copyright 2003-2010 Lamar University SBDC Table of Contents Introductory Section... 1 Cover Sheet... 1 Executive Summary... 1 Narrative Section... 2 Description of the Business...
More informationBUSINESS 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 informationCITY 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 informationEconomic Development Loan Program
Gloversville Community Development Agency Economic Development Loan Program The Program The Gloversville Community Development Agency loan program was formed for the purpose of promoting economic development
More informationMICRO 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 informationThe 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 informationBUSINESS LOAN APPLICATION Submit To: COUNTY OF MENDOCINO Attn: Economic Development Coordinator 501 Low Gap Road, Room 1010 Ukiah, CA 95482
BUSINESS LOAN APPLICATION Submit To: COUNTY OF MENDOCINO Attn: Economic Development Coordinator 501 Low Gap Road, Room 1010 Ukiah, CA 95482 1. Applicant Name: Name of Business: Sole Proprietorship: S Corporation:
More informationLYON RURAL ELECTRIC COOPERATIVE ECONOMIC DEVELOPMENT REVOLVING LOAN FUND APPLICATION. Name of Business: Address: City: Business contact person:
LYON RURAL ELECTRIC COOPERATIVE ECONOMIC DEVELOPMENT REVOLVING LOAN FUND APPLICATION I. BASIC INFORMATION Name of Business: Address: City: Business contact person: Social Security #: Zip Code: (if business
More informationSBA 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 informationNew Bedford Economic Development Council
New Bedford Economic Development Council Open for Business! Loan Application - Overview - Loan Application Checklist - Credit Authorization - Loan Application - Resolution of the Board of Directors - Appendix:
More informationTHE 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 informationFranklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines
Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Program Sponsors and Key Stakeholders The Micro Loan Program (MLP) is sponsored by the SunTrust
More informationPennsylvania Minority Business Development Authority Loan
Pennsylvania Minority Business Development Authority Loan Program Guidelines November 2015 Commonwealth of Pennsylvania Tom Wolf, Governor Department of Community & Economic Development Table of Contents
More informationBusiness Loan Application
Business Loan Application For LDC Staff Use Application received on: by Loan Program (s): 7/2015 BUSINESS INFORMATION Business Name: (Proposed or Existing) Loan Amount: $ Business Address: City County
More informationWONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC. Commercial Loan Application. Need Help! Please call 213-618-6611 Ask for JC
WONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC Commercial Loan Application Need Help! Please call 213-618-6611 Ask for JC Or Efax 866-612-9898 Or Email: Info@WGPIC.com (please answer all questionnaires
More informationBOX BUTTE DEVELOPMENT CORPORATION Revolving Loan Fund Application
BOX BUTTE DEVELOPMENT CORPORATION Revolving Loan Fund Application I. BASIC INFORMATION Name of business: Address: City: Zip Code: Business contact person: Phone: ( ) Fax Number: Alternate Phone No. Federal
More informationGreater 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 informationSBA Policy Notice. TO: All SBA Employees CONTROL NO.: 5000-1382. SUBJECT: Reauthorization of 504 Debt EFFECTIVE: 05/26/2016. Refinancing Program
SBA Policy Notice TO: All SBA Employees CONTROL NO.: 5000-1382 SUBJECT: Reauthorization of 504 Debt Refinancing Program EFFECTIVE: 05/26/2016 The Small Business Jobs Act of 2010 (Jobs Act), P.L. 111-240,
More informationBusiness Loan Application For Existing Businesses
Maryland Capital Enterprises, Inc. PO Box 213, Salisbury, MD 21803 Office: (410)546-1900 / Fax: (410)546-9718 Business Loan Application For Existing Businesses Thank you for your interest in Maryland Capital
More informationCITY OF ATWATER MICROENTERPRISE LOAN FUND GUIDELINES
CITY OF ATWATER MICROENTERPRISE LOAN FUND GUIDELINES The City of Atwater Microenterprise Loan Fund (MLF) is designed to provide the critical and necessary capital needs of businesses in Atwater. The intent
More informationFund 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 informationNORTH DELTA PLANNING AND DEVELOPMENT DISTRICT, INC MISSISSIPPI SMALL BUSINESS ASSISTANCE PROGRAM
NORTH DELTA PLANNING AND DEVELOPMENT DISTRICT, INC MISSISSIPPI SMALL BUSINESS ASSISTANCE PROGRAM APPLICATION PACKAGE For More Information Contact: James Curcio or Jeff Walters Post Office Box 1488 Batesville,
More informationCITY 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 informationCHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application
CHEROKEE COUNTY Entrepreneurship (E-) Community Loan Application January 2015 Cherokee County E-Community Program A partnership project of Cherokee County Economic Development Corporation 104 S. Kansas
More informationThe Florist Credit Union:
The Florist Federal Credit Union BUSINESS LOAN APPLICATION I. GENERAL INFORMATION Applicants Name / Borrower (individual business owner or business name): Tax ID Number: Mailing Address: Contact Person:
More informationECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT
ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT Dear Applicant: Thank you for your interest in the Economic Development Corporation of the City of Flint loan program. Enclosed are the Commercial
More informationEmerald Financial Commercial Funding COMMERCIAL LOAN APPLICATION
Emerald Financial Commercial Funding COMMERCIAL LOAN APPLICATION This checklist if provided to assist in gathering the necessary information needed for the initial evaluation of your loan request. Complete
More informationALGONA MUNICIPAL UTILITIES REVOLVING LOAN FUND APPLICATION
ALGONA MUNICIPAL UTILITIES REVOLVING LOAN FUND APPLICATION I. BASIC INFORMATION Name of Business: Address: City: Business Federal Tax ID (Social Security # for Sole Proprietorship: Other contact(s)/application
More informationBaltimoreMICRO - Revolving Loan Fund
BaltimoreMICRO - Revolving Loan Fund sbrcbaltimore.com FACT SHEET Description and purpose Administered by the Baltimore Development Corporation (BDC), the purpose BaltimoreMICRO is to provide existing
More informationBCDA Inc. Loan Application
BCDA Inc. Loan Application Business Loans BCDA Inc. has created a revolving loan fund to provide loans to businesses in Boone County. Loans made by BCDA will serve as gap financing after a loan has been
More informationApplication Process: There is a two-stage application process, which includes a Conditional Approval and then a Final Application package.
Small Business Lending Center Microenterprise Loans Loans from $500-$10,000 Rates and Terms: Fixed Rates 8.75%-10%, for up to six years 7% for up to 10 years for Energy Efficiency Projects (see Loan Manager
More informationThe SBA 504 Loan Program. Financing the Owner Occupied Property
The SBA 504 Loan Program Financing the Owner Occupied Property SBA 504 Overview PURPOSE: provide FIXED RATE, long-term, below- market,, subordinated financing to owner- occupied small businesses promote
More informationBUSINESS CREDIT APPLICATION CITIZENS BANK
BUSINESS CREDIT APPLICATION CITIZENS BANK APPLICANT: BUSINESS NAME(Exactly as it appears on Partnership Agreement or Corporation Papers) TAXPAYER ID# OR SOCIAL SECURITY # MAILING ADDRESS: BUSINESS LOCATIONS:
More informationHamilton County 2012-2013 Microenterprise Program
Hamilton County 2012-2013 Microenterprise Program SUMMARY OF PROGRAM Purpose: This grant program targets qualified microenterprises to create job opportunities for low- to moderate-income residents. A
More informationREVOLVING LOAN FUND PROGRAM APPLICATION PACKAGE
REVOLVING LOAN FUND PROGRAM APPLICATION PACKAGE INTRODUCTION Merrimack Valley Economic Development (MVED) Corporation is a non-profit, corporation set up in 1995 to improve the economy of Merrimack Valley
More informationMILWAUKEE 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 informationWright 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 informationLOAN APPLICATION TRI-COUNTY COUNCIL FOR WESTERN MARYLAND, INC. SUMMIT FINANCING SOLUTIONS State Lottery Terminal Fund (SLoT)
Print Form LOAN APPLICATION TRI-COUNTY COUNCIL FOR WESTERN MARYLAND, INC. SUMMIT FINANCING SOLUTIONS State Lottery Terminal Fund (SLoT) OFFICE USE ONLY Date Ck# Fund Amt DD CL# *APPLICATION PROCESSING
More informationBUSINESS 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 informationCITY OF MONTGOMERY REVOLVING LOAN FUND APPLICATION. Name of Business: Address: City: Zip Code: Business Contact Person: Telephone Number:
I. GENERAL INFORMATION Name of Business: Address: City: Zip Code: Business Contact Person: Telephone Number: Social Security: Other contacts or application assistance providers: Telephone: Type of Business:
More informationCommunity Development Authority (CDA)
BUSINESS LOAN PROGRAM FACT SHEET 1. Who is eligible? Any industrial, commercial or mixed use development in Peabody is eligible. 2. What kind of financing is available? The Business Loan Program will finance
More informationBUSINESS PLAN TEMPLATE
PARRY SOUND AREA COMMUNITY BUSINESS & DEVELOPMENT CENTRE INC. A Community Futures Development Corporation 1A Church Street, Parry Sound, ON P2A 1Y2 Telephone: (705)746-4455 Toll Free: 1-888-746-4455 Fax:
More informationSSBCI PROGRAM PROFILE: LOAN PARTICIPATION PROGRAM. May 4, 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury
SSBCI PROGRAM PROFILE: LOAN PARTICIPATION PROGRAM May 4, 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Loan Participation Program? A Loan Participation Program enables small businesses to
More informationGREEN BUSINESS LOAN PROGRAM Application & Information
East Providence Special Waterfront Development District Small Business Administration GREEN BUSINESS LOAN PROGRAM Application & Information WATERFRONT DISTRICT/SBA GREEN LOAN PROGRAM Waterfront District
More informationSMALL BUSINESS REVOLVING LOAN FUND
THE CITY OF LAWRENCE Community Development Department 225 Essex Street, Lawrence MA 01840 Tel (978) 620-3510 Fax (978) 722-9440 SMALL BUSINESS REVOLVING LOAN FUND June 2012 Small Business Revolving Loan
More informationCalvert Economic Development Loan Fund FOREWORD
Calvert Economic Development Loan Fund FOREWORD The Calvert Economic Development Loan Fund (CEDLF) is a direct loan program designed to provide financial assistance to eligible businesses. CEDLF support
More informationFacade Grant Program APPLICATION
C I T Y O F E A S T C H I C A G O North Harbor Facade Grant Program APPLICATION The City of East Chicago will fund up to 80% of the cost for facade improvements for properties in designated areas within
More informationGrants State Bank. Requirements for Conventional Commercial Real Estate Loans
Grants State Bank Requirements for Conventional Commercial Real Estate Loans The items listed below are required to process your loan with Grants State Bank (GSB). Please complete the applicable forms
More informationSCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW
SCORE Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW One key to a successful business start-up and expansion is your ability to obtain and secure appropriate financing.
More informationNORTHWEST LOAN FUND Serving Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt and Summit Counties
NORTHWEST LOAN FUND Serving Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt and Summit Counties SUMMARY OF LOAN REQUEST NLF Loan Request Amount 1. PRELIMINARY INFORMATION : Business
More informationCITY OF TOMAH COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS REVOLVING LOAN FUND ADMINISTRATIVE PLAN
CITY OF TOMAH COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS REVOLVING LOAN FUND ADMINISTRATIVE PLAN Sponsored by The City of Tomah 819 Superior Av, Tomah, Wisconsin 54660 608-374-7455 & Wisconsin Department
More informationGrowFL and SunTrust Bank Present: How To Utilize The SBA Loan Programs To Improve Cash Flow And Grow Your Business
GrowFL and SunTrust Bank Present: How To Utilize The SBA Loan Programs To Improve Cash Flow And Grow Your Business GrowFL Webinar Series Date: March 5, 2012 Presented by: Hetal Engineer, SunTrust VP hetal.engineer@suntrust.com
More informationDETROIT SMALL BUSINESS MICROLOAN PROGRAM
DETROIT SMALL BUSINESS MICROLOAN PROGRAM CENTER FOR EMPOWERMENT & ECONOMIC DEVELOPMENT (CEED) WCCCD 8200 W OUTER DRIVE DETROIT, MI 48219 PHONE: 313/255 1020 WEBSITE: WWW.MICEED.ORG LOAN APPLICATION GUIDELINES
More informationBuilding 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 informationBUSINESS 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 informationFINANCING PROGRAMS APPLICATION
FINANCING PROGRAMS APPLICATION Dated: June 20, 2011 The Business Consortium Fund, Inc. 305 Seventh Avenue, 20 th Floor New York, NY 10001 Attn: Financing Programs Tel: 212-243-7360 Fax: 212-243-7647 info@bcfcapital.com
More informationPEF 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 informationMRRA Revolving Loan Program for Tenant Leasehold Improvements and Working Capital. Lending Policies and Procedures
MRRA Revolving Loan Program for Tenant Leasehold Improvements and Working Capital Lending Policies and Procedures Midcoast Regional Redevelopment Authority Mission Statement MRRA was established by the
More informationAPPLICATION REDI Self Employment (SELP)/Entrepreneur FINANCIAL ASSISTANCE PROGRAM
APPLICATION REDI Self Employment (SELP)/Entrepreneur FINANCIAL ASSISTANCE PROGRAM Regional Economic Development Investments Inc. (REDI, Inc.) provides loans up to a maximum of 15,000 to financially assist
More informationCITY OF GLENDORA ECONOMIC DEVELOPMENT LOAN/GRANT PROGRAM
CITY OF GLENDORA ECONOMIC DEVELOPMENT LOAN/GRANT PROGRAM The City of Glendora provides federal Community Development Block Grant (CDBG) funds for eligible economic development projects. The Economic Development
More informationBUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION Superior National Bank & Trust Company 235 Quincy Street, P.O. Box 450 Hancock, MI 49930 phone 906.482.0404 toll-free 1.866.482.0404 1 INTRODUCTION Thank you for considering Superior
More informationSBA 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 informationLOAN APPLICATION RUSSELL COUNTY MICRO-LOAN FUND
LOAN APPLICATION RUSSELL COUNTY MICRO-LOAN FUND Name of Applicant Phone Name of Business Phone Federal Tax 1.0. Number Type of Business Date Established Number of employees Current Retained Creating BANK
More information