|Does your business need financial assistance due to COVID-19?|
The Resilient Columbia CARES Act Revolving Loan Fund may be an option!
This opportunity is available for only for businesses located within the corporate limits of the City of Columbia.
Not sure if your business is within City limits? Enter your address here to check!
The Resilient Columbia CARES Act Revolving Loan Fund provides a financing option to small businesses in an effort to "prevent, prepare for, and respond" to the economic injury attributed to the coronavirus (COVID-19).
- Business owners may apply for a loan ranging from $10,000 - $200,000.
- Loans will be at 0% interest the first year of repayment and 2.5% fixed for the remaining loan term.
- Businesses must be located within the City of Columbia to be eligible.
- Resilient Columbia CARES Act RLF Fillable Application
- Resilient Columbia CARES Act RLF Business Narrative Template
- Resilient Columbia CARES Act RLF Required Checklist Cover Page
- Resilient Columbia CARES Act RLF Uses
- Resilient Columbia CARES Act RLF Ordinance
Templates For Use In Completing Resilient Columbia CARES Act Revolving Loan Fund Application Package
Global Cash Flow Template (for existing businesses)
- Complete this template for the previous 2 years in business.
- Complete the resume worksheet included in the Global Cash Flow Template only once or attach a resume.
SCORE's Financial Projection Template for Start-up Businesses
Download and complete the SCORE's financial projection template if you are a start-up business. An example of a completed start-up financial projection template can be found here.
For assistance in completing this template, we recommend downloading the Financial Projections Template Guide in English or Espanol.
Funds may be used for the following:
* Building construction or rehabilitation
* Business conversion or expansion
* Purchase of real estate, machinery, equipment., supplies,
* Working capital
To be eligible for funding through the Commercial Revolving Loan Fund (CRLF):
* Businesses must be located within the corporate city limit of the City of Columbia
* Project must retain or create a certain number of jobs per amount funded
* Certain funds require participation of private lenders and can only be used to fund part of an entire project
* An equity investment on the part of the applicant may be required
1. Contact the City of Columbia's Office of Business Opportunities for more information and to get a loan
2. Applicants must submit the following:
a. Completed Loan application
b. Three (3) years of taxes and financial statements (business and personal)
c. Three (3) years of financial projections for the business
d. Business plan (start-ups) or plan for expansion/rehabilitation. etc.
3. Completed applications are reviewed by staff and if they meet requirements, forwarded to the Commercial
Revolving Loan Fund committee for review and approval/disapproval.
Commercial Loan Application
Commercial Loan Brochure
Commercial Revolving Loan Fund Code - R-2018-061
COMMERCIAL LOAN MEETING AGENDAS
CRLF Agenda 1-22-2020
CRLF Agenda 2-26-2020
CRLF Agenda 4-29-2020
CRLF Agenda 5-20-2020
CRLF Agenda 6-24-2020
CRLF Agenda 7-29-2020
CRLF Agenda 8-18-2020
CRLF Agenda 9-2-2020
CRLF Agenda 9-25-2020
No meeting held in: March 2020.
Commercial Loan Committee Members
Jennifer Bishop, Chair