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How to Use the Neighborhood Business Revitalization Guarantee
These are the steps to follow if you are an existing business owner
or developer seeking financing:
- Develop a Business Plan or project plan.
- Provides a blueprint for your business operation.
- Details how you plan to accomplish your goals.
- Make an appointment with a Neighborhood Business Revitalization Guarantee
(NBRG) Lender.
- Complete the application jointly with your lender.
- Additional documentation your lender will need to complete the application
package:
- Personal financial statements from all individuals with a 20% or greater
ownership interest in the business (the statement(s) must be completed,
signed and dated within 90-days of the application date);
- Resumes of all business owners, developers and other key management
personnel;
- Project documentation; i.e., Offer-to-Purchase, bids or cost estimates,
business purchase agreement;
- The last three years' audited or reviewed financial statements or Federal
tax returns and all supporting schedules;
- Interim financial statements (Balance Sheet and Income Statement) dated
within 90-days of the application.
- Have your lender send the application package to WHEDA® for review.
- You can expect to receive a decision within 15 business days.
- Close your loan.
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