CORE Capital Loan Assessment Score
The CORE Capital Loan Program seeks to both provide access to capital for Verified Equity Applicants and achieve high repayment rates so funds can be relent to help more businesses be successful. In order to meet this dual outcome, Applicants must undergo an assessment process (aka underwriting) where their application will be evaluated and scored based upon the point system below which takes into account both the applicant’s need for funds and, if applying for a loan, their ability to repay the loan. This assessment process will result in the CORE Capital “Assessment Score”.
In order to obtain a CORE capital loan, an application must receive an Assessment Score of at least 60 points.
Applicants can re-apply if their Application does not receive the required minimum score.
There are 100 total points available.
Total Possible Points
1) Is the business 100 % owned by Equity Verified Individuals?
2) Does the Equity Applicant have at least one year of managerial work or volunteer experience that can be verified through a resume, experience form, reference, description in the business plan and/or company research?
3) Do(es) operating partner(s) have at least one year of managerial work or volunteer experience that can be verified through a resume, experience form, reference, description in the business plan and/or company research?
4) Verifiable business network: Did Applicant provide three personal or professional references?
5) Track Record: Did Applicant describe a project that they completed which produced a successful result or achieved a meaningful accomplishment (work, volunteer, other, specify)?
6) Assessment of how the funding will be used: Did Applicant provide a written explanation of how funding will be used in line with industry standards?
7) Assessment of the Use of Proceeds/Budget statement: Did Applicant provide a sample budget in line with industry standards?
8) Business plan completeness: Did Applicant answer each business plan question in line with industry standards?
9) Financial projection completeness: Did Applicant provide 12-month monthly projections for 1st year of business in line with industry standards?
Grant Total Score: