Newport News Revolving Loan Fund Programs

Please provide the following information for each officer, director, and owners of the business.

Proposed Use of Funds

Please round up to the nearest dollar. Do not use symbols, commas or decimal points. Do not leave any fields blank. Enter a 0 for items not being requested.

Upload documents by choosing "Choose File" or "Browse". Select your document, select "Open", and then select "Upload".

Building Rehab	$
Equipment Purchase (Machinery and Tools)	$
Working Capital (to include initial inventory and supplies)	$
Marketing	$
	$
TOTAL	$

Building Rehab

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Equipment Purchase (Machinery and Tools)

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Working Capital (to include initial inventory and supplies)

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Marketing

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Other

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Statistical Information

Required Application Attachments

Upload documents by choosing "Choose File" or "Browse". Select your document and select "Open", and then select "Upload".

Letters of support/reference letters/letters of intent

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Completed Current IRS Form W-9 (REV/ October 2018) for Business

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Owner(s) Government Issued Identification (Passport, Drivers License etc.)

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Provide a brief description of your business and principal activity. If the business has been in operation for less than three (3) years include a business plan.
A one-page document clarifying your business model, key activities, partners and costs. (Upload Optional)

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Describe specifically how you would like to use the PIFC CARES loan funds in your business.
Examples: Renovations, rehabilitation, purchase of machinery & equipment, marketing, working capital, inventory, other (Upload Optional)

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List other sources and amount of funds that might be used in conjunction with this application to include equity and investor funds. A Sources and Uses Form must be completed and attached.

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If equipment is being purchased, provide a description of the equipment and the cost to purchase and install. (Upload Optional)

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Information necessary to support the loan application including but not limited to estimates, quotes, contracts, invoices, receipts, leases and sales agreements. If applicable, include documentation from architects, engineers, contractors, suppliers, or others involved in the sale, lease or construction of fixed assets, including an implementation schedule.

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Current Balance Sheet and last three (3) years of profit & loss statements & YTD

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Copy of Business tax returns for last three (3) years

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List any collateral you may have to offer (stocks, bonds, mutual funds, equipment, etc). (Upload Optional)

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Recent (within 6 months) Personal Financial Statements for owners/majority members with ≥ 20% ownership interest

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Last Three Years of Personal Tax Returns for owners/majority members with ≥ 20% ownership interest

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Owner’s Resume – Must Be Provided for All Owners and managers

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Financial Projections for the Business for three (3) year, first year must be on a monthly basis

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Public Information Disclosure

The undersigned understands and agrees that all information furnished in connection with this loan application involves the use of public funds and as such may be made public, pursuant to the statutes of the United States of America and the Commonwealth of Virginia.

Authorization

The undersigned authorizes the City of Hampton or the City of Newport News and/or its designee to verify any and all information furnished in connection with this loan application to include, but not limited to salary, mortgages, deposits, loans and to obtain a credit report. Authorization is also given to furnish to the Peninsula Industrial Finance Corporation any and all information that has been provided by you in connection with this loan application. Everything that has been stated in the application is correct to the best of my knowledge. I understand that any willful misrepresentation on this application and any other loan related documents could result in a requirement to repay loan funds and/or a violation of a Local, State and/or Federal code.

Newport News Revolving Loan Fund Programs Application

Information about the Business

Business Owner Information

Proposed Use of Funds

Statistical Information

Required Application Attachments

Public Information Disclosure

Authorization