Applicant applies for this loan directly to the City of Charlotte and will need the following:
- Applicant will be required to provide: 2 years of Business Tax Returns on Company(s)
- Two (2) years Personal Tax Returns on the Guarantors
- Current Personal Financial Statement on the Guarantors showing a personal net value of no more than $750,000
- Copy of Eligible Municipal Contract
- Sources & Use of Funds Statement
- Two (2) letters of recommendation from prime contractors
- Two (2) letters or recommendation from professional references
- Written explanation of past credit issues & Summary of Action to Correct (if applicable)
A $150.00 application fee to be submitted with the loan application. Additionally, a non-refundable 1% commitment fee is due upon loan approval. The application fee will be deducted from the commitment upon loan approval. The commitment fee can be deducted from the loan proceeds.