CPED Small Business Loan Application

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The Business Development division of CPED provides small business financing in partnership with private

lenders. The City offers a number of finance programs that together can meet most of your financing needs

from fixed assets to working capital.

For program guidelines go to business.minneapolismn.gov/plan/finance-your-business

or call our office at 612-673-

5072.

This application may be used for any of the Business Dev

elopment programs.

Personal Information

Applicant(s) Name: __________________________________________________________________

Name of Business: __________________________________________________________________

Business Address: __________________________________________________________________

Home Address: _______________________________________________________

Home Phone # ______________________ Business Phone #:__________________

Email Address: _______________________________________________________

Federal I.D. # ______________________ Social Security #:__________________

Brief Description on Type of Business__________________________________________________

__________________________________________________________________________________

Age of Business: _____years

Legal Structure: Sole Proprietor ____ Partnership/LLC ____ S-Corp ____ C-Corp ____ Co-op____

Property Information:

Does the business own or lease its current location? Own____ Lease____

If Lease:

Property Owner: __________________________________________________________

Address of Owner:__________________________ Phone #_______________________

Lease Term: ________

Business Square Footage: ______________

Description of proposed loan fund program uses:

Building Acquisition:

Address of property to be financed ____________________________________________________

Estimated market value (from most recent property tax statement/appraisal) ___________________

Estimated purchase price____________________________________________________

Building Improvements:

Exterior Improvements/Site Improvements: _____________________________________________

________________________________________________________________________________

Interior Improvements: ______________________________________________________________

_________________________________________________________________________________

Production Equipment: ___________________________________________________________

Working Capital:

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Describe (such as inventory, operating capital, receivables, bridge funds): ______________________

_________________________________________________________________________________

otal Project Cost: $ ____________ Total Loan Request: $_______________

inority & Women Owned Business Information (Optional)

Note: this information will not be used in determining financing eligibility nor will it be used to make funding

decisions. It will be used for reporting purposes only.

s the business at least fifty-one percent (51%) woman owned? Yes ____ No _____

s the business at least fifty-one percent (51%) minority owned? Yes ____ No _____

the business is at least 51% minority owned, please check the most appropriate description(s) below:

merican Indian or Alaska Native _____

Asian _____

Black or African American _____

Hispanic or Latino Origin _____

Native Hawaiian or Pacific Islander _____

Other: _______________________ _____

mployment Information

Num

ber of existing, employees: full-time_______ part-time________

Do you anticipate hiring additional persons as a result of this project?

Number of Full Time ________ Average wage $ ________________ Full Benefits? Yes / No

Number of Part-Time ________ Average wage $ ________________ Full Benefits? Yes / No

Lender Information:

Name of Lender:_______________________________________________________

Lender Address:_______________________________________________________

Loan Officer: ______________________________Phone #:___________________

ow did you hear about this program? ______________________________________

upplemental Information:

Ple

ase include the following attachments as part of this loan application:

 Two year balance sheet and profit and loss statement.

 Two years personal and business federal tax returns.

 Personal financial statement for any person who owns 20% or more interest in the business.

 If project will substantially affect the financial picture of your business then include a one year proform

bal

ance sheet, income statement and cash flow statement which reflects the new financing a

ubsequent changes to sales and expenses.

 Business plan if the company is new or substantially expanding.

 Bids for equipment or rehab work (if applicable).

Return this application to: Jennifer Schultz

City of Minneapolis

Community Planning & Economic Development

Public Service Building

505 4th Avenue South - 320

Minneapolis, MN 55415

612-673-5072

[email protected]

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Certifications

I (we) understand that any inspection made by the City of Minneapolis under this program is for purposes of

determining the applicant's eligibility under this program and it is not intended to represent or warrant the

condition of the premises.

I (we) understand that making application in no way insures approval of my loan or guarantees funding.

I (we) understand that "approval" means specific written approval from both

the City of Minneapolis and my

lender.

I (we) understand that any work performed prior to this application and/or specific written

approval from both

the Lender and the City will be considered ineligible unless otherwise waived in writing by the City and the

Lender, as written in the guidelines.

In performance of work financed by this loan, I (we) will require the Construction Contractor(s) who construct

the improvements to conform to all of the applicable local, state and federal laws governing Equal Opportunity

Employment and Affirmative Action; meet the necessary insurance and bonding requirements mandated by the

Lender; and, in conduct of my business, conform to all of the applicable local, state and federal laws governing

Equal Opportunity Employment and Affirmative Action.

I (we) understand that should I move my business

outside of the City of Minneapolis, the City loan will be due

and payable immediately upon relocation.

I (we) understand that information requested in this application will be treated in accordance with the Minnesota

Government Data Practices Act, Minnesota Statutes, Chapter 13.

Authorization for Release of Information and Documents: The undersigned applicant(s) understands and

agrees that a portion of the loan being requested from your lender may be guaranteed, financed, purchased or

assigned by The City of Minneapolis Community Planning & Economic Development. The applicant hereby

authorizes disclosure of all information and documents submitted in connection with this application to The City

of Minneapolis and/or by your lender.

________________________________________ ______________

Signature of Applicant Date

________________________________________ ______________

Signature of Co-Applicant Date