Loan Application - Greater Eastern Oregon Development Corporation

1GEODC Loan Checklist

2General Information

3Loan Costs and Financing

4Revolving Loan Agreement

5Confidentiality Policy

6Additional Required Documents

Total Project Cost(s):
Land
Building Acquisition
Leasehold Improvements
Machinery/Equipment Acquisition
New Construction
Working Capital
Inventory
Total
Proposed Financing:
Bank $
Bank %
GEODC $
GEODC %
Other $
Other %
Applicant $
Applicant %
Total $
Total %
Applicant Certification:

I/We certify that all information in this application and information furnished in support of this application are true and complete to the best of my/our knowledge and/or belief. Verification may be obtained from any source named, and I/we agree to you obtaining a personal credit check.
Name
First Last
Date
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Name
First Last
Date
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Name
First Last
Date
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GREATER EASTERN OREGON DEVELOPMENT CORPORATION (GEODC) IS AN EQUAL CREDIT OPPORTUNITY LENDER The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (providing the applicant has the capacity to enter into a binding contract): because all or part of the applicants income derives from any public assistance programs; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.

Revolving Loan Fund Assistance Agreement

This agreement is made on the date listed below, between Greater Eastern Oregon Development Corporation (GEODC) and the entity listed below (all corporations, partnerships, and partners included here), of the location listed below, hereinafter collectively referred to as applicant.
Date of Agreement*
MM slash DD slash YYYY
List all corporations, partnerships, and partners*
Applicant of the following, Oregon*
Loan Packaging:

GEODC agrees to work with the applicant to investigate the feasibility of obtaining financing under the Intermediary Relending Program (IRP), the Economic Development Administration Loan Program (EDA), the State of Oregon Loan Program, or GEODC’s other loan programs, as appropriate. IRP is funded by the Rural Business-Cooperative Service (RBS) which governs the making and servicing of the IRP loans according to RBS regulations. GEODC will investigate the financial situation of the applicant and determine which loan program, if any, is appropriate.

GEODC will seek financing for the applicant if it determines in its sole discretion that (1) applicant is within GEODC’s and the loan program’s eligibility criteria and the project is likely to be approved under the loan program, and (2) other elements of the complete project can also be financed. If GEODC applies for an IRP or State of Oregon loan, it will submit a set of documents, with supporting exhibits, known as the loan package, for the benefit of the applicant.
No GEODC Liability:

GEODC is depending upon the applicant to promptly and accurately supply information and assist in preparing the application. In addition, financing is dependent upon many factors that GEODC cannot control, including economic factors and the decision of the financial institutions. Accordingly, GEODC does not promise that the applicant will obtain financing.

Applicant agrees that GEODC shall not be responsible, in any manner, or liable to the applicant or any other person in the event that financial assistance is not obtained from any of the lending programs or private financing sources.

Applicant also agrees that GEODC shall not be liable for any of the debts or obligations incurred in and for the assistance or benefit of the applicant.

Applicant further agrees that applicant will hold GEODC harmless and pay all costs and expenses, including attorney fees, in the event any claim is made or lawsuit filed by or against GEODC arising out of any transaction with or assistance to the applicant.
Fees:

If successful in obtaining financing, the applicant agrees to pay GEODC a fee of 1.5% (or $250 minimum) of the loan amount, for GEODC’s overhead and expenses.

In addition, applicant agrees to pay all costs of closing the loan and related transactions, including title insurance, recording fees, and GEODC legal fees. Applicant further agrees to pay any reasonable expenses incurred by GEODC’s attorney.
Business and Credit Information:

Applicant agrees that GEODC may receive confidential business, financial, and credit information about the applicant from financial institutions, credit reporting agencies or other sources. GEODC agrees that all confidential information received will be held in confidence and not divulged to persons or agencies, other than prospective lenders or guarantors.
Change of Circumstances:

Applicant agrees to notify GEODC immediately in writing of any materially unfavorable change in the applicant’s financial condition, and the absence of such notification shall be considered a continuing statement that no such unfavorable change has occurred.
No Provisions Outside this Written Agreement:

Both parties agree that there are no other promises, terms, or agreements outside of this agreement, and that this written agreement controls over any such promises, terms, or agreements, whether they are conflicting, additional or consistent. No changes may be made to this agreement by any agent, contractor, employee of GEODC, or other party without the express written approval from an officer of GEODC.
Conclusion:

Applicant certifies that the person(s) signing on behalf of applicant are authorized to do so by any individuals, partners, partnerships, corporations, or other entities that are to assisted under this agreement.
Applicant(s):
Name*
First Last
Date*
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY

Greater Eastern Oregon Development Corporation
Confidentiality and Financial Information Policy

Greater Eastern Oregon Development Corporation (GEODC) will not disclose any financial information concerning the applicant’s business to any person not serving on the Board or staff of GEODC, with the following exceptions:
1. U.S. Small Business Administration
2. U.S. Department of Commerce-Economic Development Administration
3. USDA Rural Development
4. Lenders involved in applicant’s project
5. Applicant’s Accountant and Attorney
6. Other persons designated by the applicant and by GEODC staff listed immediately below:
Other persons designated by the applicant and by GEODC staff
By signing below, I/We indicate that I/we have read, understood, acknowledged and accepted these conditions.

Applicant(s):
Name*
First Last
Date*
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY
Greater Eastern Oregon Development Corporation
Voluntary Disclosure

Notwithstanding the provisions above, I/we agree to allow GEODC to disclose the following information about my/our business and its project to any person, organization, business, governmental agency, or any entity upon approval of a GEODC loan.
1. Business Name
2. General Description of the Project
3. Project Cost
4. GEODC Loan Amount
5. Jobs Created/Retained
*
- I/We consent to the release of the above information
- I/We DO NOT consent to the release of the above information Applicant(s):
Applicant(s):
Name*
First Last
Date*
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY
Name
First Last
Date
MM slash DD slash YYYY