Revolving Loan Agreement Form printable pdf download

NYFA LOG # _______________________

REVOLVING LOAN AGREEMENT FORM

Loan applications are processed on a first come, first served basis. There is no waiting list. PLEASE NOTE: The amount of

the loan must not exceed 80% of the grant.

The undersigned hereby applies for a loan of $ _______________________ (the “Principal Amount”) from the New York

Foundation for the Arts, Inc. (“NYFA”), which will be used in order to meet certain commitments of:

Borrowing Organization

Address

City

p i

y t

e d

a r

I l

Telephone

Fax #

pending receipt of funds in the total amount of $ _____________________ from the NYC Department of Cultural Affairs.

If this application is approved, the Borrowing Organization understands that the amount disbursed will be the Principal

Amount minus a service charge of ________________. If this application is approved the Borrowing Organization agrees to

repay the Principal Amount, together with applicable fees, to the order of NYFA, pursuant to the terms set forth below.

DECLARATIONS

YES

Are there any unsatisfied outstanding judgments aga

n i

t s

o y

? u

Have you been declared bankrupt within the past sev

n e

e y

r a

? s

Have you had property foreclosed upon or given title or deed thereof in the last seven years?

Are you a party to any lawsuits?

Are you presently delinquent or in default on any federal, state, or municipal debt or other

loan, mortgage financial obligation or loan guarantee?

Are there liens on any bank accounts or other depositories of the Borrower (such as credit

union or brokerage accounts)?

Has any grant been repossessed by any funding agency or organization, or refunded by

Borrower, due to failure or inability to perform under such grant’s terms within the last

seven years?

The Borrower agrees as follows:

The funds against which the loan is requested have not been assigned or pledged for any other purpose.

NYFA retains first lien against the agency grant.

The Borrower will repay NYFA the full amount of the loan, on time, whether or not the agency grant is paid.

If any money owed to NYFA is sent by the agency directly to the Borrower, the Borrower will notify the agency and

NYFA within one business day and work diligently with NYFA and the agency to rectify the oversight.

The Borrower will cooperate in any lawsuit brought by NYFA concerning this loan, with jurisdiction in New York County

or other county designated by NYFA, in the State of New York.

The Borrower will be responsible for any legal costs it incurs in any lawsuit related to this loan. It will reimburse NYFA

for its costs, including any collection costs and the cost of its staff time, and will not contest NYFA’s charges.

The Borrower will immediately notify NYFA of any change of address, or any change in status affecting the answers to

the Declarations above.

NYFA alone may determine the amount, payment terms, interest, and fees for this loan.

The loan repayment is due six months from the date of the loan.

Revolving Loan Agreement Form

Related Articles

Related forms

Related Categories