BIPOC Loan Fund Application

BIPOC Loan Fund

Application Step Two - Inquiry Form

BIPOC Loan Fund

The submission portal is open all year round and applications are reviewed monthly. This loan fund rose out of Community Investment Corporation (CIC) staff’s desire to take concrete and tangible action in the wake of recent and ongoing national tragedies and calls for racial equity and justice. Since January 2021, the BIPOC Loan Fund Committee, all BIPOC identifying community leaders without traditional lending experience, have been meeting monthly to reimagine lending, discuss barriers to capital access for BIPOC communities, and design a transparent process that meets entrepreneurs and business owners where they are with the goal of helping them take the next big step in their business growth. The Committee discussed current lending practices and defined historic and current barriers for BIPOC entrepreneurs and business owners to capital access. We built an application and program process that aspires to eliminate the barriers and to redefine how community lending can be done when the borrower is put first. Our approach is meant to be welcoming, and we actively encourage BIPOC communities to tap into this funding resource. All funding decisions will be made by Committee members, not CIC.

Program Guidelines and Requirements

• Loan amounts: $500 to $10,000 • Term: up to 4 years • Interest Rates: 3% • Loan Fees: $9 • Business must be located in one of the following counties: Cochise, Graham, Greenlee, Maricopa, Pima, Pinal, Santa Cruz, Yuma • In business for at least three months • Completion of Info Session, online Inquiry Form, and Your Business Story - an application online via video/audio and text. Loan funds must be used for business purposes. Businesses cannot be engaged in any of the following activities: multilevel marketing/direct sales, financial services, illegal activities. Business or business owners cannot have active tax liens.

BIPOC Loan Fund Application: Step Two

This is the second of three steps of the BIPOC Loan Fund Application process. Please take time to complete this form at which point you will submit this form and be sent a confirmation email with directions, including a link to download our BIPOC Loan Fund Worksheets to help you craft Your Business Story, which will be told in Step Three via the VideoAsk platform. A member of our team will email you a unique link for Step Three: Your Business Story. You will be welcome to submit your responses in video, audio, and text. All responses can be created on the platform or uploaded/copied and pasted. Please begin Step Two below.

Name(Required)

First Last

Title:(Required)

Email(Required)

Enter Email Confirm Email

Business Name:(Required)

Business Zip Code(Required)

ZIP / Postal Code

Phone:(Required)

Business Address (physical):

Mailing Address (if different):

What county is your business located in?(Required)

Business must be located in one of the following counties: Cochise, Graham, Greenlee, Maricopa, Pima, Pinal, Santa Cruz, Yuma

Name/s of business owner/s:(Required)

Business phone number:(Required)

Do you have a business email address different from the one listed above?(Required)

Yes

Business email address(Required)

Describe your business in 1-2 sentences.(Required)

(What is it, who does it help, and how?)

Business website and social media handles:(Required)

If you do not have any, enter "N/A"

Employees, Contractors, Volunteers

Number of full-time employees:(Required)

Include any full-time owners here. If none, enter 0.

Number of part-time employees:(Required)

Include any part-time owners here. If none, enter 0.

Number full-time of contractors:(Required)

If none, enter 0.

Number of part-time contractors:(Required)

If none, enter 0.

Number of full-time volunteers:(Required)

If none, enter 0.

Number of part-time volunteers(Required)

If none, enter 0.

Business Entity:(Required)

Sole Proprietorship

Limited Liability Company (LLC)

Corporation

Partnership

Nonprofit

Other

Requested Loan Amount(Required)

Enter an amount between $500 and $10,000.

Please enter a number from 500 to 10000.

How did you hear about this loan opportunity?(Required)

Referral

Internet Search

Social Media

Other

Who referred you?(Required)

Please list first and last name, or full business name.

OLD - How did you hear about this loan opportunity?(Required)

Is there anything else you would like us to know?

Would you like to sign up for CIC's newsletter?

Sure, I'll give it a try!

No.

Owner Demographics

List proprietors, partners, officers, directors, and all holders of outstanding stock. 100% of ownership must be shown. 50% ownership must identify as BIPOC to qualify for this program. Not applicable for nonprofits. Please note that the fields in this form are for reporting purposes only. Your responses will be kept private and secure. The information will not be used for a discriminatory purpose.

To add additional owner information click the + button(Required)

To add additional owner information click the + button

Owner Name:

Ownership Percentage:

Age

Under 18 Years

18-24 Years

25-64 Years

65 Years and Older

Prefer not to answer

Gender

Female

Male

Non-Binary

Transgender

Prefer not to answer

Race and Ethnicity(Required)

American Indian or Alaskan Native

Asian

Black or African American

Hispanic or Latino

Multiracial

Native Hawaiian or Other Pacific Islander

White

Other

Prefer not to answer

Disability Status

Able-bodied

Not able-bodied

Prefer not to answer

Sexual Orientation

Lesbian

Gay

Bisexual

Heterosexual

Not Applicable

Other

Prefer not to answer

Other:(Required)

Veteran Status

Veteran

Veteran Spouse

Non-Veteran

Prefer not to answer

Do you identify as a Socially Economically Disadvantaged Individual (SEDI) as per section 8 of the Small Business Act (15 U.S.C. 637) and the regulations thereunder?

Socially Disadvantaged:(Required)

Have you been subjected to racial or ethnic prejudice or cultural bias because of your identity as a member of a group, regardless of your individual qualities?

Yes

Unsure

Prefer Not To Answer

Economically Disadvantaged:(Required)

Has your ability to compete in the free enterprise system been impaired due to diminished capital and credit opportunities compared to others in the same business area who are not socially disadvantaged?

Yes

Unsure

Prefer Not To Answer

Declarations

Responding yes or no to any of the below questions does not automatically disqualify you from this loan opportunity. Decisions will be made on a case-by-case basis.

Do all business owners file personal taxes?(Required)

Yes

Unsure

Please explain why any owners do not file taxes.(Required)

Does the business file taxes?(Required)

Yes

Unsure

Please explain why the business does not file taxes.(Required)

Does the business or any of its owners currently owe business or personal taxes from previous years?(Required)

Yes

Unsure

Please explain why taxes from previous years are owed:(Required)

Does the owner(s) listed have an ownership stake or interest in any other business(es)?(Required)

Yes

Unsure

Please describe/list any other businesses in which the owners are involved. Also, explain the nature of the involvement / ownership stake.(Required)

Example: Owner John Doe holds a 50% stake in XYZ company, a member-managed LLC.

Is the owner(s) listed above party to any judgments, suits, or litigation?(Required)

Yes

Unsure

Please explain:(Required)

Has the owner(s) listed above ever been convicted of a felony?(Required)

Yes

Unsure

Please explain:(Required)

Step Two Complete

Congratulations on completing the second step in applying for the BIPOC Loan Fund! The third and final step is to tell us Your Business Story. We are using the VideoAsk platform to collect the information and you can submit your answers via video/audio and text. Once you submit this portion of the application you will receive confirmation via email with instructions on your next steps. If you do not receive an email, please check your Spam Folder!

Step Two: Loan Inquiry Form Complete(Required)

I understand that once I click "Submit Step Two - Loan Inquiry Form Complete" that I will receive confirmation at the email address provided above, including next steps to complete "Step Three - Your Business Story", and that all parts of the application must be completed in order to be considered.

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BIPOC Loan Fund

Application Step Two - Inquiry Form

BIPOC Loan Fund

Program Guidelines and Requirements

BIPOC Loan Fund Application: Step Two

Employees, Contractors, Volunteers

Owner Demographics

Declarations

Step Two Complete