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LENDING:
APPLICATION
Any group or individual interested in discussing the possibility of a loan is invited to contact the Genesis Community Loan Fund. Loan fund staff will determine if your project meets lending criteria. If the project is eligible, you will be asked to submit an pre-application form and supporting materials such as a project budget, sources and uses proforma, and letters of commitment. Once the application is complete, it is sent to the Loan Committee, which reviews completed funding requests on a monthly basis. The committee evaluates the submissions according to lending criteria and makes a preliminary determination. Recommendations for financing are submitted to the full Board of Directors. If the loan is approved, a letter is issued committing to a loan under stated terms and conditions. The borrower's agreement will be required within a specified time. Preparation of documents is authorized and closing takes place, usually within five business days after the satisfaction of all conditions. Genesis will monitor the loan and provide continued support to the project as appropriate. Application Form Click here for an application
form. (pdf) |
