Create Denver Revolving Loan Fund (CDRLF)
Loan Application Package
Thank you for your interest in the Create Denver Revolving Loan Fund (CDRLF), a joint program
of the Office of Economic Development (OED) and Denver Office of Cultural Affairs (DOCA). The
CDRLF offers Create Denver--both start-up and existing creative businesses—in the City and
County of Denver access to affordable and flexible business capital to increase income and build
assets.
The City of Denver requires the submission of a complete business plan with the following
information as part of the CDRLF loan application process:
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Loan Application Cover Sheet
Cover Letter
Description of Business
Project Proposal
Marketing Plan
Company Financial Statements (projected and/or current)
Financial Data on Borrowers, Guarantors, etc.
If you require assistance in putting together the complete business plan, please contact the
Business Assistance Center, the City’s one-stop information center, at 720.913.1715 or send an
e-mail to denverbac@denvergov.org. You may also visit the Business Assistance Center
online or in the atrium at the Wellington Webb Municipal Building at 201 W. Colfax during regular
business hours of 8:00am – 5:00pm Monday – Friday. The Business Assistance Center can
provide technical assistance and/or refer you to the numerous resources within the City & County
of Denver or outside entities.
LOAN APPLICATION PACKAGE
Submit only those documents that are applicable to your project. If you have any questions
regarding the applicability of any of the following documents for your loan application, please
contact an Economic Development Specialist with the Office of Economic Development/Strategic
Investments Group at 720-913-1999.
Cover Letter
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Cover letter, signed by the borrower, requesting public financial assistance (indicate the
amount requested from the City and the reason for the request).
o Attach declination letters from financial institutions unable to participate.
o Indicate the total project cost and commitments from financial institutions,
investors and/or owners’ equity contribution to fund the proposed project
Description of Business
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Name, phone number and current address (and proposed address, if different).
o Include company brochure, or historical profile, and number of years in business.
Current and proposed legal structure.
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Include Articles of Incorporation and/or Articles of Organization, Bylaws, and
Certificate of Good Standing; Trade Name Affidavit; Partnership Agreement;
Borrowing Resolution and employer IRS number.
Current and proposed management and staffing structure.
o Include resumes of key management, hiring procedures, training programs, and
wage scales.
Description of current and proposed products and/or services provided by the business.
o Include product or service brochures or specifications.
Description of current facility and/or proposed facility.
o Include a diagram of the building and site plan.
Description of current and proposed equipment and other significant personal property.
o Include equipment brochures or specifications.
Business goals, objectives, and profit requirements.
o Include a schedule for meeting business goals and objectives.
Project Proposal
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Information about loan request including amount requested, purpose(s) and how the
funds will support the business
Itemization of project costs, including new assets to be acquired and their uses.
o Include verification of significant costs (e.g. construction bids, invoices, real
estate appraisals), and buy-sell agreements, leases, real estate contracts, etc.
Construction plans, specifications, and cost estimates.
o Include a profile of the contractor and the contractor's bonding capacity.
Sources of funds for project costs, with rates and terms of debt financing.
o Include commitment letters from participants.
Description of benefits to the city resulting from this project.
o Include estimates of increased tax revenues, spin-off development, new jobs
created, new services to be provided to Denver area residents, elimination of
environmental hazards, etc.
Description of collateral and insurance policies being offered to secure the city's loan.
o Include appraisals on collateral, listings of prior encumbrances, insurance
policies, etc.
Complete and submit Job Creation Grid (separate attachment)
Marketing Plan
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Regional or national market and industry trends.
o Include sources used to obtain market data.
Target market and boundaries of service area.
o Include profile of customers and competitors, and percentage of market required
to break-even.
Marketing strategy.
o Include current and proposed pricing sheets and advertising samples.
Current Company Financial Data (if applicable)
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Current and annual balance sheets and profit and loss statements, and complete federal
tax returns (annual financial statements and tax returns for last three years).
o Include an aging of accounts receivable and accounts payable, and an
itemization of all long-term debt.
Projected Company Financial Data (required)
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Projected annual balance sheets, profit and loss statements, and cash flow statements
for a minimum of five years (monthly cash flow statement for first year).
o Include a detailed list of projection assumptions and industry financial standards
for comparison.
Credit, trade and banking references.
o Include the company's most recent credit report and copies of sales contracts, or
letters- of-intent from potential customers.
Listing of past due government obligations.
o Include settlement agreements with government agencies and extensions for
filing tax returns.
Financial Data on Borrowers, Guarantors, etc.
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Current personal financial statements on all borrowers and guarantors, and on all Coowners, partners or shareholders with a 20% or greater interest in the business.
o Include contingent liabilities and itemized personal gross income for each
financial statement
o Complete Personal Financial Statement worksheet (separate attachment)
Federal tax returns for the last three years on all borrowers and guarantors.
Include requests for extensions for filing tax returns.
HOW TO SUBMIT YOUR COMPLETED APPLICATION
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Complete and save the Loan Application Cover Page
Complete and save Job Creation Grid
Complete the Personal Financial Statement
Email completed loan application package (including all attachments) to:
a. Ginger White Brunetti, DOCA, ginger.white@denvergov.org
b. Theresa Mendoza, OED, Theresa.mendoza@denvergov.org
Note: Applications will not be processed until all required materials are
received!
APPLICATION REVIEW PROCESS
Applicant
contacts City
(DOCA/OED)
for CERLF loan
Applicant
prepares
Loan
Application
Package
Refer to
BAC, CEF or
others for TA
CERLF Application Process
Completes/
submits Loan
Application
Package to
OED
CERLF
Assessment
Committee:
review, interview,
score and
recommend
or deny for further
consideration
If recommend:
OED Loan
Officer
prepares
summary for
LRC (credit
memo)
Present to
OED LRC for
final approval
If approved,
Generate
Form 42
If denied,
DOCA
notifies
applicant
DOCA
notifies
applicant
Two (2) week process
Note: Approval/declination of request within 2 weeks of receiving a
complete loan package
CONTACT INFORMATION
DOCA: Ginger White Brunetti, 720-865-4314, ginger.white@denvergov.org
OED: Theresa Mendoza, 720-913-1616, Theresa.mendoza@denvergov.org
Business Assistance Center: 720-913-1715, denverbac@denvergov.org.
Ciity Atty.
drafts loan
agreement
Signature:
borrower
& city
agencies
Request
loan
closing
documents
Loan
Closing
Request
draws
w/documents
or 50%
advance
Eight (8) week process
Note: From initiation of Form 42 to loan
closing and actual funding