Business Builder Initiative. Learn More - Visit or call Ask about the Next Orientation!

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Seeds for Success

Business Builder Initiative

Limited scholarships are available. Loan Application fee may be included in the loan proceeds. Loans subject to Loan Committee Approval. Completion of program does not guarantee loan success.

Business Loans

Up to $25,000

Inventory, Equipment, Working Capital and more!

The Process is Simple - 2 Steps!

Attend the

Show Me the Money!

Orientation

Been there - done that?

If you feel ready to apply–

Go for it! We can help as you need it!

First time jitters?

Never applied for a business loan?

Don’t have a business plan or a cash flow projection?

No problem! Attend the three 1 hour workshops where we

guide you Step-by-Step.

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Learn M

ore - Visit

www.GR

OWwashing

ton.biz

or call 360-

217-7235. A

sk about

the Ne

xt Orient

ation!

Apply Today

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Seeds for Success

Business Loans

Application and Process

Workshops are working sessions. Please come prepared with workbook

and business ideas or supporting documentation.

E

ntrepreneurial Edge Small Business Toolkits

may be purchased at GROW Washington

or online at EntrepreneurialEdgeSeries.com, Amazon.com, or B&N.com

Made possible with support from the WSMA and Washington CASH.

Applications

Now Available!

2 Ways to Access Capital:

If you have never secured a business loan and don’t have a

business plan - We can help! Simply attend the Orientation and

the three Seeds for Success Workshops

Orientation: Show Me the Money!

Session 1: Designing Your

Perfect

Business

Session 2: Writing Your Executive Business Plan

Session 3: Fast Financials

If you have secured business funding in the past –

Simply attend an Orientation and Apply!

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Learn More - Visit www.GROWwashington.biz

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Loan pre-application checklist

In order to determine if you are an appropriate candidate for a loan from Washington CASH through GROW Washington, we ask that you answer the questions below. This gives us a glimpse into your current needs and lets us begin to

understand your situation. Please answer each of the questions so we can review your information and then follow-up with you. Also feel free to contact us at 360-217-7235 if you have questions about this checklist or the process.

Please send or bring the completed checklist to:

Carolyn@growwashington.biz

Phone: 360-217-7235 GROW Washington 1204 First Street, Snohomish, WA 98290

q Itemized list of what is being requested for financing with exact costs – this lists out what the loan would be used for, how much each item being financed will cost, and where, or from whom it is being purchased.

q A statement of how you plan to pay back your loan if your business does not prove to be profitable

(i.e. a back-up plan).

q A statement explaining the circumstances of your personal credit– this includes steps you have taken to address your personal credit situation.

q A written explanation of how much time and money you plan on personally investing into this business.

q Personal financial situation – summary of all current sources of income, current monthly expenses, and all personal debt.

Please explain in the space below some detail about the current status of your business (i.e. the name of the business, what the business is, if it is a start-up or an existing business etc.):

Note: Due to the volume of requests and demand for small business loans the loan application process may take longer than expected. The more detailed and clear information you have organized and available for review at the beginning of this process, the more expedited this process will be.

Seeds for Success

Business Loans

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Orientation: Show Me the Money!

Discover the ins-and-outs

(including insider tips)

of securing debt financing.

Required:Entrepreneurial Edge Small Business Toolkit Guides 71 - 77

Session 1: Designing Your

Perfect

Business

Is your business doing for you financially what you intended? Use a

professional business design tool used by Fortune 500 companies.

Required:Entrepreneurial Edge Small Business Toolkit Guides 32 - 43

Session 2: Writing Your Executive Business Plan

Did you know your banker only wants to see a 2 - 8 page business plan?

Write an

Executive Business Plan

–the plan your banker wants to see.

Required:Entrepreneurial Edge Small Business Toolkit Guides 44 - 59

Session 3: Fast Financials

Answer the question

“When can I pull money out of my business, and stop

putting it in?”

Create your cash flow statement in this working session.

Seeds for Success Agenda

Workshops are working sessions. Please come prepared with workbook

and business ideas or supporting documentation.

E

ntrepreneurial Edge Small Business Toolkits

may be purchased at GROW Washington

or online at EntrepreneurialEdgeSeries.com.

Get the help you need!

All sessions may be followed up with a one-on-one working session or

mentoring session with a GROW Washington business counselor.

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Washington C.A.S.H. Business Builder Loan

a program of GROW Washington

Seeds for Success Business Builder Loan

Application Checklist

Thank you for your interest in applying for a Business builder Loan with Washington C.A.S.H through GROW Washington. At Washington C.A.S.H. we believe in the power of small business and strive to provide access to training and capital that will help small business owners both start and expand their small business, providing the means to increase self sufficiency. Business Builder Loans are fixed term loans designed for entrepreneurs who are starting a new business, have an existing business, or are purchasing an established business. The loan amounts range from $500 to $25,000 and can be used for business purposes only.

Enclosed is our Business Builder Loan application packet. Please complete the packet, and return to Carolyn Eslick at GROW Washington, along with the following:

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$50 non-refundable application fee

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Business Plan (with current and projected financials)

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Copies of last 2 years personal and business federal tax filings (full returns required)

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Copies of 3 months business checking account statements

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Copy of current business licenses

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Copy of Articles of Incorporation/Formation (if applicable)

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Copy of most recent annual report filed with the Department of Licensing (if applicable)

Once everything is received by GROW Washington, the loan process takes a minimum of 2-4 weeks to complete.

GROW Washington Contact Carolyn Eslick

360-217-7235

Carolyn@growwashington.biz

Decisions on loan amounts are made by a loan committee on a case by case basis contingent upon the strength of each loan applica-tion. Review of the loan amount requested will include an evaluation of the borrower’s personal investment, whether borrower has a current need for the total amount requested, capacity to make full loan payments, and borrower’s ability to make loan payments if the business venture runs into problems.

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Business Builder Loan Program:

· Providing loans in excess of $5000, but not to exceed $35,000 ($5001 - $10,000 for businesses operating up to 2 years – over 2 years in operation can apply for up to $35,000).

· Funds may not be used for personal expenses or rent. · Term of loan: 24-60 months (depending on loan amount).

· Interest rates fixed, and range from prime + 4% to prime + 8% (if paying interest rate conflicts with religious or moral believes borrower can pay a flat fee).

· Fees:

o Application fee – non-refundable $50 – submitted after borrower has been deemed eligible to apply (can be check or credit card).

o Loan Origination Fee – 1-3% of loan amount – to be set by Washington CASH.

o Borrower will be charged the actual fee for the following:

§ Credit report

§ UCC filing fees

§ Title searches and transfer fees

§ Deed of trust recording fee

§ Cost of storing physical collateral

o All fees, except the application fee, can be paid up front or financed into the loan as a deduction from the initial loan amount.

Am I Eligible?

To be eligible to apply for a Business Builder Loan, the following statements must apply:

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I am at least 21 years of age.

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I have a current business checking account and Washington State business license.

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I have a business which has been operating in Washington State for at least one year, extensive experience in this line of work, or an alternate source of income.

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I have limited or no access to traditional business lenders.

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I have sufficient collateral to cover my loan amount (vehicle, home, equipment, stocks, etc)

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My loan funds will be used for business purposes only

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I am passionate about my business and dedicated to its success.

Seeds for Success

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Business Builder Application Process:

The following is a step to step outline of what you can expect with applying for the Business Builder Loan Program through GROW Washington in partnership with Washington CASH.

Step One:

Ensure you are eligible by reading the eligibility requirements above and by attending a Seeds for Success Orientation.

Step Two:

1. Fill out Business Builder Loan Application 2. Submit $50 non-refundable application fee.

3. Business Plan (see attached Business Plan Outline for example and what to include) 4. Copies of last 2 years personal and business federal tax filings (full returns needed) 5. Copies of 3 months business checking account statements

6. Copy of current business licenses

7. Copy of Articles of Incorporation/Formation (if applicable)

8. Copy of most recent annual report filed with the Department of Licensing (if applicable) 9. Additional documentation may be required.

Step Three:

GROW Washington business counselor will notify applicant on status of application package and report if anything is still required.

Applicant and Washington CASH Loan Manager may schedule a meeting in person or over the phone to

discuss any questions either may have, access borrower’s financial/business skills, and based on the information provided determine the next step for the borrower.

The application process will take 2 – 4 weeks from time of applicant submitting all required documents.

Step Four:

Loan application will be reviewed by the Loan Review Committee. During this time the committee will: · Hear presentations by the applicant (if the applicant would like to be present)

· Ask questions of applicant (if present) · Propose restructuring loan request

· Decide what business consulting, if any, should be provided to the borrower · Recommend or not recommend the loan for approval

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BUSINESS BUILDER LOAN APPLICATION

PERSONAL PROFILE

First Name:___________________Middle Initial:_____ Last Name:_____________________

Social Security Number:________________________ Date of Birth:_______________________ Current Street Address:____________________________________________

City/State/Zip:___________________________________________________ Years there:_______ Own:____ Rent:____ Other:____

Previous Address (if less than 2 years at current):__________________________________________________ City/State/Zip:______________________________________ Years there:_______

Phone (Home): ________________ (Cell): _______________________ (Work) _____________________ Number of Dependents:________ Email:________________________________________________

BUSINESS PROFILE

Name of Business:_____________________________________________________ Business Address:_____________________________________________________ Phone:_____________________

Tax ID#_________________________

Amount of money you have contributed to business $__________

Original Start-up date (MM/YY) ____________ Previous year’s total revenue $____________ Description of product/service:

Current # of employees? ___ # part-time? ____ # full time? ___ Number of new employees (i.e. jobs) this loan will create?_____

Business structure: Sole Prop ___ Partnership ___ LLC ___ C-Corp ___ S-Corp ___ Business training received:

Introduction to debt financing______ Business Planning _____ Financial Training_____ Other_____________

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BORROWER ELIGIBILITY/USE OF FUNDS

Do you meet all of the following guidelines? (please read each item) (check one) Yes ____ No _____

· You are at least 21 years of age · You reside in Washington State

· You are not able to receive lending from conventional sources.

· You will be able to provide financial records (income statements, balance sheets, projected financials, tax returns) to support your loan application

· Your business possess all required city and state licenses If you answered no above, please explain:

_____________________________________________________________________________________ _____________________________________________________________________________________

Where did you hear about Washington CASH? GROW Washington

BUSINESS BANKING AND OTHER REFERENCES

Name of Business Bank Branch Location _____ Loan(s) _____ Checking 1.

2.

Other Business References (client, suppliers, utilities, etc)

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3.

HOUSING INFORMATION

Do you own or rent your home? ___________ Monthly Payment: __________________ Mortgage Holder (Bank/Lender):____________________________________________

Landlord: ________________________________________ Phone: ____________________

BASIC CREDIT HISTORY

Have you applied for a business loan elsewhere? (check one) Yes ____ No _____ If yes, when and with what bank/lending institution? _______________________ What was the outcome of the loan application? ___________________________ Have you ever declared bankruptcy? (check one) Yes ____ No _____

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Are you subject to any judgments or liens at present? (check one) Yes ____ No _____ If yes, amount $__________ owed to whom? ________________

Are there any tax liens presently outstanding against you or your property? Yes ____ No ____ Do you have any accounts in collections? (check one) Yes ____ No _____

Have you ever had a purchase repossessed? (check one) Yes ____ No _____ If yes, balance owing $__________ owed to whom? ________________

Are you a co-maker, endorser, or guarantor of any other person’s debt? Yes ____ No _____

Use this area to give detailed explanations of any poor credit circumstances:

BUSINESS INSURANCE INFORMATION

Insurance Company or Broker: _______________________________________________ Agent Name: ______________________________________ Phone: _____________________ Street Address: ___________________________________________________

City/State/Zip: ___________________________

Type(s) of Coverage: ___________________________________________________________

SPOUSE INFORMATION, IF APPLICABLE

Are you married?(check one) Yes ___ No ___ Spouse employed?(check one) Yes ___ No ___ If employed, list occupation _______________________________________

Current Employer: ______________________________________________________________ Address of Employer: ____________________________________________________________ Phone Number of Employer: ______________________________________________________________

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PERSONAL FINANCIAL PROFILE

Assets Current Value Liabilities/Credit References Balance Owing Minimum Monthly Payments Cash in Banks Mortgages/Rent(Please detail on reverse)

Real Estate Owned Bank Loans Automobile (year/make) Bank Loans

Automobile (year/make) Bank Cards/Department Stores (please list separately) Boat (year/make)

Cash Value Life Insurance Stocks/Bonds (Attach Schedule)

Valuable Collections Alimony/Child Support Contracts Receivable Auto Loans or Other Loans Other Assets (Please Describe) Total Liabilities

$ Total Monthly Payments $ Total Assets $ Net Worth

(Total Assets – Total Liabilities) $

APPLICANT’S STATEMENT

I have answered the questions on this financial statement fully and truthfully. I understand that you may check my credit record and any statements I have made. I give all my creditors permission to give you any information you may need to determine whether you want to grant me credit. I give you permission to give credit reporting agencies and other creditors information relating to credit you may grant me. All information given is as of this date unless otherwise stated.

Applicant’s Signature:__________________________________________________________________________ Date:_____________________ Spouse’s Signature (if applicable): ________________________________________________________________ Date:_____________________

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CERTIFICATION

Application for a loan does not guarantee approval.

The undersigned acknowledges that he/she has read the Description of Loan Program and that his/her business meets the requirements of the loan program. The undersigned applies for this loan indicated in the application and represents that all statements made in this application are true and are made for the purpose of obtaining the loan. Verification may be obtained from any source named in this application. The lender will retain the original or a copy of this

application even if the loan is not granted. The undersigned also authorizes the lender to conduct a business check and to have access to credit reports.

Applicant’s signature________________________________________Date:______________

Please make sure your loan packet includes all documents listed on the Loan Application Checklist.

Once everything is received the loan process takes a minimum of 2-4 weeks to complete. Thank you for your interest in the Business Builder Loan Program. Please call or email with any questions. Caroyn Eslick, GROW Washington, 360-217-7235, carolyn@growwashington.biz

Seeds for Success

Business Loans

Made possible with support from the WSMA and Washington CASH.

Loan Application fee may be included in the loan proceeds.

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