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BUSINESS LENDING BLUEPRINT REGISTRATION
The Community Investment Department can assist you in completing a business registration and any supplemental forms, and in explaining the responsibilities of each party involved in BOB and in BOBIE. Business Lending Blueprint Oz Konar Oguz Konar 397 Palmer Rd Bangor, PA United States. For transactions funded through the BOBIE set-aside, the funding cap will not apply. 4.5 months after the round opening, the BOB funding cap will be lifted and any remaining BOB funds will be re-pooled and made available again to all members. For BOB transactions, funds are initially limited to a cumulative maximum of $600,000 per member. Once enrolled, submit registration forms during open funding rounds to request BOB or BOBIE funds on a first-come, first-served basis for qualified businesses.Please email request the Addendum needed to sign up for BOBIE. Members who wish to participate in BOBIE also must execute an Addendum to the BOB Master Agreement prior to submitting any application for BOBIE.Submit a one-time Enrollment Form and Master Agreement to access the BOB product.To apply for BOB or BOBIE funds, members: The member must show that the loan would not have been made without BOBIE financing.The member must provide a loan of at least 25% of the total project cost.In such cases, BOBIE will provide up to 100% of the remaining exposure of the member. The total BOBIE financing must not exceed 100% of the member loan, except in cases when the member uses a public loan guarantee program.The amount of BOBIE financing must be equal to or less than the $200,000 maximum.If one job cannot be created or retained for every $35,000 in funds requested, an applicant’s qualification as a “Minority-Owned Business” or “Women-Owned Business” (as defined in the BOB Program Manual) is an acceptable qualifier to demonstrate economic impact.The business must qualify as a “Minority-Owned Business” or “Women-Owned Business” as defined in the BOB Program Manual.The member must show that the loan would not have been made without BOB financing.Įach BOBIE transaction must meet the following guidelines:.The member must provide a loan of at least 40% of the total project cost.
In such cases, BOB will provide up to 50% of the remaining exposure of the member. The total BOB financing must not exceed 50% of the member loan, except in cases when the member uses a public loan guarantee program.The amount of BOB financing must be equal to or less than the $200,000 maximum.One job must be created or retained for every $35,000 in BOB funds, or other economic impact must be demonstrated.The business must qualify as a small business based on SBA size standards.
BUSINESS LENDING BLUEPRINT HOW TO
He also tells you how to advertise in several different met. BOB or BOBIE funds may be used in financing the startup, maintenance or expansion of a small business, including, but not limited to:Īll grants are in the form of recoverable assistance with specific repayment terms.Įach BOB transaction must meet the following guidelines: Find out more at He tells you how to connect with lenders personally.
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