CMV Growth Development Fund Application

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Business Information
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Sole Proprietorship
Contact Information
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Business OwnershipPlease include owner(s), officer(s), & shareholder(s) who own 20% or more shares of the company. *

Owner #1:

* Personal financial statements and tax returns are required for those with 20% or greater ownership interest.

Bank Information
Attorney Information
Accountant Information
Current and Projected Employment

Loan criteria for this loan require a minimum of one job be created or retained for every $12,000 of RLF financing. The RLF Loan Board may adjust this up to one job for every $20,000 if they feel the economic benefits of a proposed loan merit such an adjustment.

Professional / Manager / Technical Jobs

Skilled Jobs

Unskilled / Semi-Skilled Jobs
Anticipated Sources & Uses of Funds

Loan Criteria

  • For purpose and protection of the RLF loan portfolio, $2 of private financing to every $1 of RLF financing is required.
  • Lending from this loan fund is always in conjunction with a sponsoring senior lender or investor. To apply for a CMV loan a business must secure private financing. A senior lender will also be required to appear at the CMV Loan Board meeting with the business to answer questions and help service the CMV loan.
  • Each project will require a minimum of 10% equity of total project cost.
  • Real estate, working capital, and equipment and machinery all are eligible financing uses. Adequate collateral and security requirements will be sought on all RLF loans. The RLF may take a subordinated position behind a senior lender.

In addition to the MRRPC Loan, Bank Loan, and existing Equity, will you have additional sources of funds you will be using?

No other sources
1 additional source
2 additional sources

Use: Acquire Land

Use: Acquire Building

Use: Improve/Renovate Building

Use: Purchase Equipment/Machinery

Use: Inventory

Use: Working Capital

Use: Other #1

Use: Other #2

Use: Other #3
Project SummaryLoan or Equity Amount

Loan Term (Years)

Loan Interest Rate

Annual Debt Service

Type of Collateral

Security Position

Type of Guarantee
Required Exhibits

The following exhibits must be completed where applicable and included as part of your application. After you submit this first page, you will receive an email with the list of documents needed and a link to attach those exhibits at a later time. You will also be taken to a form to begin uploading any exhibits you may have already prepared.

The Mississippi River Regional Planning Commission reserves the right to request additional information above and beyond this list.

  • Business Plan (see business plan outline below).
  • Signed personal financial statements for any person who owns 20% or more interest in the business.
  • Federal tax returns filed by the business for the previous three years.
  • Key person insurance or property insurance, which may be available or has been obtained to secure the loan.
  • Information concerning any pending or threatened litigation or administrative proceeding, any outstanding administration orders, judgments or injunctions or involvement in any bankruptcy.
  • Certification of business compliance with all federal, state, county, and municipal laws affecting the conduct of business within the CMV service area.
  • Statements and reasons from the lending institution(s) that the RLF loan will not be substituting for commercial lending is required.
  • Statement concerning the source of equity for the project, and how it will be obtained and appraised.
  • A job creation commitment letter from the business stating its understanding that failure to meet this commitment will result in an interest rate increase on the RLF loan or the complete recall of the RLF loan. And a statement from the business that no person will be discriminated against on the basis of race, color, national origin, religion, age, handicap, or sex when being considered for employment.
  • Copy of your last commitment letter from your bank indicating your working capital line of credit.
  • Commitment letter from your bank regarding any financing the bank will provide for this project.
  • Copy of lending institution(s) loan board report on their portion of the financing
  • Statements by lending institution(s) that they understand the RLF reporting requirements and are authorized to enter into a loan servicing contract with the RLF at time of closing.
  • Any environmental questionnaires, reviews, or audits conducted by the applicant, lending institutions, or their agents shall be provided.
  • A statement from the business certifying that it will not relocate out of the County it resides in during the term of the RLF loan and that in the event of a relocation outside of the County it will immediately prepay the RLF loan. In addition the applicant must sign EDA's certificate of Non Relocation.

Business Plan Outline:
  • Executive Summary should include:  Name and location of business; brief discussion of product, market and competition; expertise of management team; summary of financial projections; amount of financial assistance requested and proposed purpose; and business goals and reasons for undertaking the project.
  • Description of Company:  Date and state of incorporation or formation, history of company, background of the principals and their roles.
  • Market Analysis:  Description of current industry and industry trends, description of the total market and its participants, discussion of the target market and the competition.
  • Description of the Product or Service:  List of patents, copyrights, licenses or proprietary interests; discussion of technical and legal considerations; comparisons to competitors’ products or services; description of current and future research and development.
  • Marketing Strategy:  Over strategy; pricing policy and sale terms; method of selling, distributing and servicing; current and estimated sales and market share; advertising, public relations, and promotion.
  • Management Plan:  Form of business organization, composition of board of directors, officers’ organization chart and responsibilities, resumes of key personnel and listing by key advisors.
  • Operating Plan:  Schedule of upcoming work and key completion dates for next two years, planned facilities or capital improvements for next three years, staffing plan.
  • Financial Data:  Funding request indicating the desired financing, capitalization, use of funds, and future financing; year-end financial statements (balance sheet, income statement, and cash flow statement, for the past two years); current interim financial statements; pro forma cash flow projections, including the proposed financing, for two years; projected balance sheets, income statement, and statement of changes in financial position, including the proposed financing, for two years; description of all assumptions behind the financial projections.

Has the company, any officer, subsidiary, or affiliate of your company been involved in pending or threatened litigation or administrative proceeding, have any outstanding administration orders, judgments or injunctions or involvement in any bankruptcy?

You will be asked to provide the details as a separate exhibit.

Have you, your lending institutions, or their agents conducted any environmental questionnaires, reviews, or audits?

You will be asked to provide the details as a separate exhibit.
Digital Acceptance & Signature


  1. Certifies that the information supplied in this application and all other supplemental information submitted for review is true, accurate, complete and reflects my intended response.
  2. Certifies that there are no known occurrences or events that could have an adverse material impact on you or your business. Such as but not limited to lawsuits, criminal actions, bankruptcy, violation of laws, lawsuits, criminal or civil actions, bankruptcy proceedings or regulatory intervention.
  3. Certifies that it is in compliance with and current on federal payroll withholding, state payroll withholding, payment of unemployment taxes, federal income taxes, state income taxes and real estate taxes.
  4. Certifies that you (personally) and your business are in compliance with and current under the terms and conditions of any loan, loan guarantee, leases, or financing arrangements with any other creditor.
  5. Certifies that the CMV Growth Development Fund or its agent is authorized to obtain a credit check, insurance information and background checks on my business or any owner with 20% ownership or more and to discuss the business’s condition with its creditors and insurance companies for the purposes of determining credit worthiness for a revolving loan fund loan.
  6. Agrees to reimburse the CMV Growth Development Fund or its agent for any reasonable expenses made in connection with this loan request, including, but not limited to, title work, legal fees, appraisals, recording/filing fees etc.
  7. Agrees to indemnify, defend and hold harmless the CMV Growth Development Fund Lender, its committees, agents, partners, business advisors or other associated parties against claims and damages relating to or arising from this application or any funds provided in connection with this application, and hereby release and waive any liability, costs, or expenses against them.
  8. Agrees that by submitting this application, neither the CMV Growth Development Fund Lender nor any of its partners are under any obligation to approve the loan.
  9. Acknowledge, understand and agree that you have applied for a loan that is required to be paid back with interest to the CMV Growth Development Fund and that will be secured by one or more of the following; a business and/or personal guarantee(s), a security agreement, mortgage, or other security instruments.
  10. Agrees that in the event credit is extended you, you may be required to complete a direct deposit and payment authorization form allowing for the CMV Growth Development Fund to transfer funds into your business’s bank account and for your payments to be electronically debited by automatic clearinghouse (ACH) and deposited into the CMV Growth Development Fund bank account.

By checking this box I am digitally signing, agreeing to the statements above.

Check here if a second person will be signing this application.

By checking this box I am digitally signing, agreeing to the statements above.