Grant County Economic Development Corporation
GCDC is an equal opportunity provider and employer.
Application Form
One of the primary objectives of the Grant County Development Corporation (GCDC) is to promote, encourage and assist in the growth and development of small business within the community.
It is to that end that all applications to the GCDC for funding or consideration for purchase of lots in the Industrial Park shall include:
- 3 years of personal IRS tax returns of all partners involved in the business
- Business Plan, which includes an explanation of the planned growth of the company, financial history and projections.
- Completed Loan application form
- Appraisal of land or real property for security, all other types of property by recognized standards.
Documents and help are available from the Small Business Administration
Or
First District Planning, Watertown, SD
If you have already completed a business plan for your operation, please submit it with this application form. The applicant recognizes that the GCDC Loan Fund may not process any application that is not complete.
Incomplete applications will be returned to the applicant for completion.
The primary objective of the GCDC Revolving Loan Fund is to assist projects that contribute to rural development, job retention and/or creation, improve rural infrastructure and meet unmet needs in Grant County. In this objective, GCDC Revolving Loan Fund participates with financial institutions and other lenders to maximize the available capital for development projects.
For additional information please contact the Grant county Development Corporation office located at
1001 E. 4th Ave. , Milbank, SD 57252; or call (605) 438-4232
1) General Information
Name ofBusiness______Type______
Contact Person(s)______
Current Address______
Proposed Address______
Telephone______
Date Business Established______
Federal ID Number______
Bank of Business Account______
Bank Contact______Phone______
Loan to be in the Name of______
Date Financing Requested______
Description of Business ______
______
Current Number of Employees
Full Time______Part Time______
Predicted Number of New Jobs within the Next 2 Years
Full Time______Part Time______
Number of Positions Created Managers______Professional______Sales______Office______Other______
Please explain.______
______
If job creation is not expected, please describe the public purpose of your company and the impact on the area community (ies). (If there is tax abatement, please explain.)______
Current Annual Payroll Current______Net Increase______
Previous experience in proposed business______
______
2) Management (Proprietor, partners and stockholders with 20% or more ownership in the business)
Name Address %Owned Social Security
______
______
Is this business a “c” Corporation______“s” Corporation______?
Partnership______Proprietorship______
Who is borrowing in this project? Corporation______Partnership______Individual(s)______
Corporate Officers
President______Vice President______
Secretary______Treasurer______
3) Sources/Uses of Funds
A. Proposed Use of Funds B. Proposed Source of Funds
1) Equipment______1) Amount Injected by
Borrower______
2) Furniture/Fixtures______
Source______
3) Working Capital______
Type______
4) Inventory______
2) Conventional/Other Lenders
5) Accounts Receivable______
6) Other (specify)______
TOTAL USEOF FUNDS______TOTAL SOURCES OF FUNDS______
(NOTE: Total Use of Funds and Total Sources of Funds should be equal.)
Please specify the source of the borrower’s injection.
______
Desired Term of Loan (Maximum term is 10 years.)______
Loan Amount Requested from GCDC Loan Fund______
Collateral To Secure Loan (Please list with current value and relevant liens.)
______
Has the company or any officers of the company filed proceedings? Yes____ No____
If yes, please explain.______
______
Is the company or any officer of the company involved in any pending lawsuits?
Yes____ No____ If yes, please explain.______
______
All information contained above or in schedules attached hereto are true and complete to the best knowledge and belief of the applicant and there is no intent to deceive or defraud the ITC Telecom Economic Development Revolving Loan Fund or any potential participant in any loans to finance the project.
Name of Applicant Company______
Name of Authorized Official(s)______
Title ofAuthorizedOfficial(s)______
Signature ofAuthorizedOfficial______Date______
Signature of Authorized Official______Date______
The following information is requested by the Federal Government for certain types of loans, in order to monitor compliance with equal credit opportunity. You are not required to furnish this information, but are encouraged to do so. The law requires that a lender may neither discriminate on the basis of this information nor on whether you choose to furnish it. However, if you choose not to furnish it, under Federal regulations, this lender is required to note race/ethnicity on the basis of visual observation or surname. If you do not wish to furnish the above information, please check the box below.
______I do not wish to furnish this information.
Ethnicity:
Hispanic or Latino ______
Not Hispanic or Latino____
Race (Mark on or more)
White _____Black or African_____
American Indian/ Alaska Native _____ Asian_____
Gender:
Male _____ Female _____
_____ Information provided by lender (Management)
This institution is an equal opportunity provider.
Estainstutucionesunproveedor de servicios con igualdad de oportunidades