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Pre-application process. All parties seeking revolving loan funds must file a pre- <br />application. Pm-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 />a4 <br /> <br />g. <br />h. <br />i. <br />j. <br />k. <br />I. <br /> <br />m, <br /> <br />lq. <br /> <br />Business plan describing the scope of the project, including site plans, building <br />plans, renderings~ or blueprints; <br />Project budget; <br />Private financing commitment; · <br />Equity investment commitment; <br />Proposed security; <br />Company financial statements' (3 years); ' <br />Personal financial statements (2 years); · <br />Credit check release; <br />Mortgage or lease of property to be improved; <br />Proof of insurance of property to be improved; <br />Number of jobs to be created or retained; <br />Wage information; <br />Amount of loan request; and <br />Other documentation as requested, <br /> <br />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 />