Forgivable, No-Interest Loans for Small Businesses Application

Provide full name, home address, and ownership % for each owner that owns more than 20% of the business.

The City wants to have a continued relationship with the businesses it assists through this program and help them navigate the recovery from the pandemic. To that end, applicants that receive a loan will be required to submit follow up information to the City of Webster City on a quarterly basis for the term of the loan. Such information will include, but is not limited to, the status of the business, the business location, regulatory issues the business faces, and any business coaching or technical assistance needs of the business. The City will use this information to connect the businesses to relevant resources. Borrowers will submit the information via an online portal similar to the application form. Before the end of the twelve-month deferral period, borrowers will submit a final report. The City will use the information in that report, and any follow up information requested of the borrower, to determine whether the borrower meets the criteria for loan forgiveness. The City will forgive the loan if the business continues to operate in Webster City in good standing with City ordinances and regulations. Those borrowers that do not meet the forgiveness criteria will need to repay the loan at the end of the twelve-month period.

This data is being requested from you to determine if you are eligible for assistance from the City of Webster City. You are not required to provide the requested information, but failure to do so may result in the City’s inability to determine your eligibility for assistance and the denial of your application.

This information and the information provided on all accompanying documents is provided for the purpose of obtaining a loan for the Applicant. Applicant acknowledges that representations made in this application will be relied on by the City in its decision to grant such loan. The City is authorized to make all inquiries it deems necessary to verify the accuracy of the information contained herein. The Applicant will promptly notify the City of any subsequent changes which would affect the accuracy of this information and the information provided on all accompanying documents. The Applicant understands that it is a crime to make a false representation as to their or their company’s financial ability for the purpose of securing a loan. The Applicant declares under penalty of perjury that all information provided herein and on accompanying documents is true in every detail and accurately represents the financial condition of the applicant and the Business on the date given below, and that the Applicant has authorization to sign this form. By typing anything in the text box below, the Applicant agrees that they are electronically signing this application. The Applicant understands and agrees that their electronic signature is the legal equivalent of a manual signature and that the City may rely on it as such in connection with any and all agreements that the Applicant or the Business may enter into with respect to this application.