LNEDC Loan Application: Part 1 of 4

Lafayette Neighborhoods’ Economic Development Corporation, Inc.

$25 Non-refundable application fee

MUST BE SUBMITTED WITH APPLICATION

Loan Administrator:

LNEDC

P.O. Box 4655– Lafayette, LA 70502-4655

(337) 406-1077

THE FOLLOWING INFORMATION MUST BE INCLUDED WITH APPLICATION REQUEST BEFORE YOUR LOAN APPLICATION WILL BE CONSIDERED FOR APPROVAL:

1. A completed Loan Application.

2. Detailed business plan, to include but not limited to:

   1. Start-up cost (if applicable) to include all written estimates from contractors and possible vendors.

   2. Executive summary.

   3. Sales projections.

   4. Marketing plan.

   5. Cash flow projections.

   6. Resumes of principles and key employees.

3. Personal financial statements of owners (forms included in package).

4. Federal income tax of business and/or individuals for last two tax years.

5. List of business related indebtedness (forms included in package).

6. Appraised value of all business and personal assets offered as collateral.

7. If for established business, Historical Financial Statement for last 2 years.

8. Copy of existing or proposed lease agreement.

9. If incorporated, copy of board’s resolution to borrow requested funds.

10. Rejection from bank or private lender, noting why project was not funded.

11. Authorization to release information signed by all business principles.

LAFAYETTE NEIGHBORHOODS’ ECONOMIC DEVELOPMENT CORPORATION

COMMUNITY DEVELOPMENT BLOCK GRANT

PROGRAM BENEFIT REQUIREMENTS

As an applicant for a loan from Lafayette Neighborhoods’ Economic Development Corporation, Inc. utilizing HUD funds obtained from the City of Lafayette, I/we understand and agree that as a condition of the loan agreement the borrower is responsible for the following:

1. At least 70% of jobs created or retained will be held by and/or made available to low/moderate income persons. Employer will maintain documentation by one of the following ways:

   1. For Jobs Created

      1. Completed and signed Direct Benefit Certification forms on each new employee.

      2. Certification forms for individuals referred via Joint Training Partnership Act (JTPA) employment agencies.

   2. For Jobs Retained

      1. Completed and signed Direct Benefit Certification Forms on each employee and,

      2. Evidence supporting the assertion that without LNEDC funds said business would close or project would cease.

2. That for jobs to be considered as available to low/moderate income persons, they must not require special skills that can be acquired only with substantial training or work experience or education beyond high school.

3. That if special skills are required, the business must agree to give first consideration to hiring unqualified persons and provide training.

4. That the information submitted on the application is a correct and true projection of job creation/retention activities to be experienced in the two (2) years following financing.

5. That every effort will be made to employ residents of Lafayette Parish.

I certify that the information provided in my application is true and complete to the best of my knowledge. I authorize LNEDC, the City of Lafayette, and HUD or its agents, to examine any of my records and/or procedures used for employing individuals, for the purpose of determining my eligibility for participation in the HUD-funded loan program administered by LNEDC.

Section 1: Business Profile

Please give the following information for all principals in the company. Attach additional sheet if necessary.

Section 2: Project Profile

Section 3: Assessment of Community Benefit

Present Employment

Projected Employment To Be Created (Assuming Financial Approval)

The undersigned certifies that all statements contained in this application, including all exhibits and supplementary information provided or to be provided in connection with this loan application, are true and accurate to the best of their knowledge and belief. This information is submitted as the basis for consideration of the loan.