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Check back often for additional FAQS!

Application

How do I submit an application?
Download the application and email it with all the required documents to CORE Capital Loan Program.
I want to apply for a follow-on loan, do I need to submit the same documents again?
For a follow-on loan, the application along with any documents that have changed since the last loan issued need to be submitted.

PROCESSING

How long will it take to process my loan?

This is dependent on how complete the application is and the time it takes to receive information requested by our team.  Once an application is reviewed, and email will be sent to the applicant at the email address listed on their loan application advising them if items are missing or clarification is needed.  If a response is not received, a follow-up email will be sent as time permits.  Loans are processed in the order received and incomplete or incorrect applications are places back in the queue after the email is sent.

Please allow two weeks after an application is submitted to receive the email noted above.

Funding

When will I receive my loan check?

Once the loan documents have been executed, we will start the process to issue the loan check.  You must be registered as a supplier with the City before this process can begin.  The mailing address registered in the portal is where the loan check will be mailed.  This address must match the mailing address listed on the loan application which is also added to the loan documents.  Failure to register as a supplier will result in a delay of the loan check.  

Please allow 5-7 days for the funding process.

Payments

How do I make a payment on my loan?

You can pay online with your Customer Number and Invoice Number (which can be found on your invoice) at:  Online Payment Portal

  • The Base Amount box will always show the loan balance.  You will need to change that dollar figure to the amount of your monthly payment or the amount you will be paying at that time.

If you wish to make a cash payment, please follow this link, Cash Payment, and scroll to the bottom of the page.  There is a link to instructions, make a payment, and the verification form.

When do I need to start making loan payments?

Loan payments begin within 60 calendar days from the effective date of the Commercial Loan Agreement. 

The effective date will always be the first of a month.  If a complete application is received and can be processed before the 15th of a month, the effective date will be the 1st of that same month. Loans processed after the 15th of the month will have an effective date of the 1st of the following month.   

Example:

  • Loans processed before November 15th will have an effective date of November 1st and the first payment will be due on January 1st.
  • Loans processed after November 15th will have an effective date of December 1st and a first payment date of February 1st.