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Pre-application process. Ail parties seeking revolving loan funds must file a pre- <br />application. Pre-application forms may be obtained from the Community Development <br />Department. <br /> <br />1. There will be a pre-application form that must be completed and submitted to the <br /> Community Development Department for review and approval. <br /> <br />2. The pre-application form will request information regarding the applicant, project <br /> scope, and project costs. <br /> <br />3. Upon Community Development Department approval, the applicant will be <br /> forwarded a revolving loan fund application. <br /> <br />4. Pre-application forms may be submitted on an open basis throughout the year. <br /> <br />Application process. All parties seeking revolving loan funds must file an application. <br />Application forms may be obtained from the Community Development Department. <br /> <br />Components of application. Only completed applications will be reviewed for <br />consideration by community development staff. A completed application is one that <br />satisfies the checklist provided below: <br /> <br />a. Business plan describing the scope of the project, including site plans, building <br /> plans, renderings, or blueprints; <br />b. Project budget; <br />c. Private financing commitment; <br />d. Equity investment commitment; <br />e. Proposed security; <br />f. Company financial statements (3 years); ' <br />g. Personal financial statements (2 years); <br />h. Credit check release; <br />i. Mortgage or lease of property to be improved; <br />j. Proof of insurance of property to be improved; <br />k. Number of jobs to be created or retained; <br />I. Wage information; <br />m. Amount of loan request; and <br />n. Other documentation as requested. <br /> <br />2. Incomplete applications. Community development staff, in its sole discretion, will <br /> determine if the application is complete and actionable. Incomplete applications will <br /> <br /> <br />