How to Apply
Forward Community Investments can help you determine whether a loan is the best option and, if so, how much you can afford to borrow. If you are considering applying for loan, the following is an overview of the application and approval processes. To apply for a loan, please contact our office at 1(866)687-1468.

Application Review Process
Once you submit a complete application, the Loan Officer will analyze the loan request and present a proposal to the Lending Committee for consideration. Depending on when the complete application and supporting documentation reaches our office, the process can take from two to four weeks. If the application is approved and all closing requirements have been met, funds can usually be disbursed within a week.

Application Requirements
To apply for a loan, you will be required to complete an application (include link to application form) and provide the following information:

• Organizational Description - Brief history, mission and purpose of organization; most recent annual report (if available); brochures or marketing information regarding your organization; resumes for key management/staff; list of Board of Directors and officers including names, occupations, affiliations and addresses.
• Organizational Subsidiaries and Affiliates (if applicable) - List of all subsidiaries and affiliates of borrower including description of relationship.
• Organizational Documents - Articles of Incorporation, By-Laws and IRS Determination Letter
• Development Team - List of key individuals involved in developing this project including staff, board and technical assistance providers. (When outside assistance is used, please include addresses and phone numbers of those providing services.)
• Partnerships (if applicable) - List of all partners (public and private, nonprofit and for-profit) involved in the project including their role and financial commitment.
• Project - If available, additional information about the proposed project including a business plan, project schedule highlighting important milestones and estimated date of completion.
• Organizational Financial Information
  • Income tax statements (Form 990) for the most recent year ending
  • Audited financials for the last three years (if not available, Form 990s for last three years)
  • Last three months financial statements including balance sheet and profit and loss statement  

Loan Approval Criteria
In reviewing applications, the Lending Committee considers such questions as:

• Is a loan the right financial tool to address the situation?
• Is the organization able to repay the loan based on cash flow projections, budget, sources of revenue and history of operations?
• How much experience do the management and Board have?
• Is there collateral that could provide a secondary source of repayment?  

Loan Closing Requirements
If your loan is approved, a loan closing fee and additional documentation will be required prior to closing the loan, including:

• IRS tax-exempt letter
• Signed Corporate Borrowing Resolution
• Board minutes authorizing the loan amount