Revolving Loan Fund Application

Additional Questions

  1. What type of business is it? (SIC Code)
  2. How many full time employees are there currently?
  3. How many full time employees do you anticipate adding in the next five years?
  4. How long has the business been in operation?
  5. What is the proposed project?
  6. What is the proposed total project cost?
  7. Have you contacted any banks to seek financing, if so what were the terms offered?
  8. How much funding are you seeking from VentureSouth?
  9. Are you acquiring real estate? Equipment? Please specify.
  10. In addition to a list of all owners/principals and their percentage ownership, please answer the following for each (attach additional as necessary):
    1. Are you separately employed from this business? If so, how much time do you dedicate to this business?
    2. Have you ever or do you currently serve in the armed forces or any reserve component of the United States?
    3. Do you hold any political/elected office? If yes, specify.
    4. Have you ever been convicted of a felony, misdemeanor or of any violation of law, ordinance or police regulation? If yes, please explain.
    5. Have you ever filed personal or business bankruptcy?

Additional Documentation Required

  1. Business Plan, if start-up funding is requested. Otherwise a narrative of business
    history is accepted.
  2. Narrative project description including timeline, sustainability, benefit to the
    company, and detailed costs including land acquisition, new construction,
    renovation, machinery and/or equipment acquisitions, etc.
  3. Current signed and dated financial statements for any person who owns 20% or
    more interest in the business.
  4. Executed credit check authorization and color copy of driver’s license for each
    person who owns 20% or more interest in the business.
  5. Resumes on owners/principals and executives.
  6. Federal tax returns filed by the business for the most recent three years of
    operation or personal tax returns for the previous three years if the applicant is a
    sole proprietorship, partnership, or corporation that does not have audited
    financial statements.
  7. Any insurance information carried on property or person including key man life
  8. Information concerning any pending or threatened litigation or administrative
    proceeding, any outstanding administration orders, judgments or injunctions or
    involvement in ANY bankruptcy.
  9. Statements concerning the source(s) of equity for the project and how said
    source(s) will be obtained.
  10. A letter certifying the job creation and retention commitment stating the
    numbers of jobs created and retained, a statement of the business’s
    understanding that a failure to meet this commitment will result in an interest
    rate increase on the loan or a complete recall of the loan and a statement that
    the business will not discriminate against any person based on race, color,
    national origin, religion, age, handicap, or sex when being considered for
  11. If applicable, commitment letter from bank(s) regarding any financing to be
  12. Any environmental questionnaires, reviews, reports, or audits conducted by the
    applicant, lending institutions, or their agents.
  13. A statement from the business certifying that it will not relocate out of the RLF
    region during the term of the loan and that in the event of relocation outside of
    the region the business will immediately repay the loan.
  14. A two-year projected financial statement given the implementation of the
    proposed project.

I declare that any statement in this application and in its required attachments, or information provided herein, is true and complete in substances and in fact. I declare that I am a legal resident or US Citizen with the authority to conduct business in the State of Alabama.