Forward Community Investments can help you determine whether a loan is the best option and, if so, how much you can afford to borrow. Please contact us via telephone at 1.866.687.1468 to talk about your needs, the process and how we might help you make the most strategic financial decision for your organization's future.

Following is an overview of the application and approval processes.

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 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

Note: It’s not uncommon for a Forward Community Investments loan officer to request additional information specific to the loan requested.

Some of Our Borrowers

Access Community Health Centers
Active Living Options
AIDS Resource Center of Wisconsin
Arboretum Cohousing
ARISE Family Services
Central Wisconsin CAP
Common Wealth Development
CAC for South Central Wisc.
Community Action, Inc.
Couleecap
Council for the Spanish Speaking
Crown Court Properties
Family Centers
Genesis Development Corporation
Goodman Community Center
Home Health United
Independent Living, Inc.
Jewish Family Services
Madison Area Community Land Trust
Madison Area Rehabilitation Centers
Madison Development Corporation
Midvale WISH
Mifflin Street Co-op
Monona Serenity Group
Movin’ Out
Multicultural Community Services
Omega School
Porchlight
The Progressive
Rainbow Project
The Road Home
Rural Wisc. Health Cooperative–ITN
Small World Childcare Center
Social Justice Center
Southwestern Wisc. Community
Action Program, Inc.
Starting Points, Inc.
Tellurian UCAN
Urban League of Greater Madison
West Central Wisconsin
Community Action Agency
Western Dairyland
WI Community Fund
WI Initiative in Sustainable Housing
WI Partnership for Housing Development
Women’s Transit Authority
Workers Independent News
YWCA Madison