Business/COVID-19 Loan Application - East Central Regional Development Commission
This file is a loan application form provided by the East Central Regional Development Commission for businesses affected by COVID-19. It includes sections for basic information, company information, requested amount, sources and use of funds, proposed financing terms, job creation, and business profile. The application can be filled out, saved, and printed for submission.
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How do I fill this out?
To fill out this form, simply click inside the boxes and type your information. Use the TAB key to navigate through the form fields. Once completed, save and/or print the application for submission to the East Central Regional Development Commission.
How to fill out the Business/COVID-19 Loan Application - East Central Regional Development Commission?
1
Click inside the boxes to type your information.
2
Use the TAB key to navigate through the form fields.
3
Fill out all required sections including basic information, company information, and requested amount.
4
Save the completed form.
5
Print the form for submission.
Who needs the Business/COVID-19 Loan Application - East Central Regional Development Commission?
1
Business owners affected by COVID-19 who need financial assistance.
2
Companies planning to acquire property, renovate buildings, or construct new facilities.
3
Businesses seeking funds for machinery, equipment, or inventory purchases.
4
Organizations needing working capital or other financial support.
5
Loan applicants required to submit detailed business and financial information.
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What are the instructions for submitting this form?
To submit this form, print the completed application and mail it to the East Central Regional Development Commission at their physical address. Alternatively, you can fax the form to the provided number or submit it through the designated online submission form on their website. It is advisable to retain a copy of the submitted form for your records. Ensure you include all required information and supporting documents to avoid delays in processing your application.
What are the important dates for this form in 2024 and 2025?
There are no specific important dates for this form in 2024 and 2025 mentioned within the file. However, users should ensure they submit it promptly to avoid delays in processing their loan applications.
What is the purpose of this form?
The purpose of this form is to collect detailed information from businesses applying for financial assistance through the East Central Regional Development Commission. The form gathers basic company information, financial details, and the intended use of funds. It is designed to help ECRDC appropriately evaluate and process loan applications, ensuring that businesses receive the support they need.
Tell me about this form and its components and fields line-by-line.
- 1. Company Name: Field for the full legal name of the business applying for the loan.
- 2. Primary Company Contact: Field for the main contact person in the company.
- 3. Address: Field for the company's mailing address.
- 4. City: Field for the city where the company is located.
- 5. Telephone: Field for the company's primary phone number.
- 6. Zip: Field for the company's postal code.
- 7. Cell Phone: Field for the primary contact's mobile phone number.
- 8. Email Address: Field for the primary contact's email address.
- 9. Website Address: Field for the company’s website.
- 10. Date Established: Field for the date the business was founded.
- 11. SIC Code or NAICS Code: Field for the company’s SIC or NAICS code.
- 12. Business Structure: Field for the company’s legal structure (Sole Proprietorship, S-Corp, C-Corp, LLC).
- 13. Federal Tax ID: Field for the company’s federal tax identification number.
- 14. Fax: Field for the company’s fax number.
- 15. List all owners: Section to list all owners holding at least 20% or more of the share equity in the company, including their names, addresses, ownership percentages, DOB/SSN.
- 16. Funding amount being sought: Field to specify the amount of funding being requested from ECRDC RLF.
- 17. Purpose of Funding: Section to describe the intended use of the requested funds.
- 18. Sources and Use of Funds: Table to detail how the funds will be used, including purpose categories such as Property Acquisition, Building Renovation, Machinery/Equipment, etc.
- 19. Proposed Financing Terms: Section to outline the proposed financing terms, including amount, percentage of project cost, terms (years), interest rate, and debt service.
- 20. Job Creation: Field to indicate the number of existing employees, new jobs created, and jobs retained.
- 21. Employee Benefits: Section to list the types of employee benefits offered, such as retirement, health, dental, etc.
- 22. Business Profile: Field to provide a description of the business and details about the owner’s experience and background.
What happens if I fail to submit this form?
Failure to submit this form may result in a delay or denial of loan assistance from the East Central Regional Development Commission.
- Loan Application Denial: Incomplete or missing form submissions can lead to the denial of your loan application.
- Processing Delays: Failing to submit the form may cause delays in processing your application, which can affect the timely receipt of funds.
- Inadequate Evaluation: Without the necessary information provided in this form, the ECRDC may not be able to adequately evaluate your application.
How do I know when to use this form?
- 1. COVID-19 Relief: Apply for financial assistance if your business is affected by COVID-19.
- 2. Business Expansion: Use this form to seek funds for property acquisition, building renovations, or new construction.
- 3. Equipment Purchase: Apply for funding to purchase machinery and equipment.
- 4. Working Capital: Seek financial support for working capital and other business needs.
- 5. Job Creation: Use this form if your project involves job creation and retention.
Frequently Asked Question
How do I start filling out the form?
Click inside the boxes and type your information. Use the TAB key to navigate through the fields.
Can I save my progress on this form?
Yes, you can save the form as you fill it out and continue later.
How do I print the completed form?
Once you have filled out the form, save it and use the print option provided.
What information do I need to provide in this form?
You need to provide basic and company information, requested loan amount, sources and use of funds, proposed financing terms, job creation details, and business profile.
Can I edit the form after filling it out?
Yes, you can edit the form anytime before submission using our PDF editor.
How do I sign the form?
Use the signature field to type or draw your signature and apply it to the document.
How do I share the form?
Save the form and use our sharing options to email it or generate a shareable link.
What if I make a mistake while filling out the form?
You can easily correct any mistakes by clicking on the fields and making changes.
Is there a way to see all the required fields?
Yes, the form is designed to guide you through the required fields step-by-step.
Can I submit the form online?
Yes, you can submit the form online or print it and submit it physically as per the instructions provided.
