The Build Fund has worked hard to ensure that our process is as streamlined as possible so we can continually provide economic assistance to businesses. The steps involved in our process are listed below, along with some details about what happens at every step.
Step 1: Qualify Your Business
First, we need to make sure you’re a good fit for the Build Fund. Please review the requirements listed on this page to see if you qualify. If you think you do, please click the link below to fill out a preliminary application to schedule a meeting with our team. You will need to meet all of our requirements in order to qualify for a Build Fund loan.
Step 2: Schedule a Consultation
If you qualify for a Build Fund loan, then we will reach out to you to schedule a consultation with our team. During this meeting, we will discuss your business, your goals, your plans for expansion, and more. We will review next steps and the requirements for the application process and answer any questions you may have before you begin.
Step 3: Start the Application Process
During the application process, we will keep an open dialogue so we can answer any questions or provide feedback during the process. We will likely have a couple of rounds of edits before the application is finalized and can be submitted for review. You may be charged a small application fee.
Step 4: Submit the Application
Once you have concluded the feedback and question rounds, you will need to submit the application, along with the required documents.
Step 5: Evaluation Period
Within 30 days of the application being submitted, our team will be reaching out to talk to you about what’s doable with our program and if you’re still interested. We will make a recommendation to the Loan Review Committee and put together a terms and conditions sheet during this time.
Step 6: The Offer
After the deliberation period, we will provide you with a Notice of Award or Denial with the terms of what was approved by our Loan Review Committee.
Step 7: Accept or Deny
It’s your choice to accept or deny the offer. If you do accept the offer, you will submit your signatures and send them to our team.
Step 8: Loan Document & Closing Date
Once we have received your signatures, we will draft the loan documents and a closing date will be set. We will work with you to submit closing documents, and the closing date is typically within a month of accepting the offer.
Step 9: Reporting
Quarterly, you’ll meet with the Build Fund staff to discuss financials and provide updates on job creation and the status of your business.
Step 10: Grow, Grow, Grow!
Our #1 goal is to see your business flourish. We want to help you grow so you can support the economic development in our community.