How Loan Applications Are Assessed

A completed loan application will be reviewed by the Elevate Impact Loan Committee and scored according to the scorecard attached.  Given the limited loan funds and the fiduciary responsibility associated with collecting and relending the loan capital, loans will be made on a first come first served basis for loan applications receiving a minimum score of 60 out of 100 points on the Loan Assessment.  If a loan application does not score 60 points or higher, feedback will be provided, and the Applicant can resubmit their loan application to improve their score.  

The documents that will be reviewed as a part of the Equity Loan Assessment include the following:

A1. Evidence of ownership percentage (%)

A2. Loan applicant resumé or answer experience questions

A3. Partner(s) resumé or answer experience questions

A4. Three personal and/or professional references

A5. Description of Prior Successful Project

A6. Assessment of explanation of how funding will be used (uploaded with Application Materials)

A7. Assessment of Use of Proceeds Statement/Budget (uploaded with Application Materials) 

A8. Assessment of Business Plan (uploaded with Application Materials)

A9. Assessment of 12-Month Monthly Financial statement (uploaded with Application Materials)