Follow the six steps below to submit a loan request and become a borrower!
Step 1: Contact us. Contact our Chief Lending and Credit Officer Andrew Baldwin at email@example.com or (202) 689-8935 x 223 to discuss your financing needs. For borrowers requesting financing for US-based projects, we will work to match you with a locally-based CDFI with whom we could partner.
Step 2: Application Submission. If your organization is interested in borrowing and PCG has identified a local lending partner, you will need to submit:
- A completed application with a $250 application fee
- A project description and/or comprehensive business plan
- Audited financial statements for the past three (3) years, including balance sheets, statement of income and expenses, cash flow statement and management letters. If audited financial statements are not available for the past three (3) years, you must provide compiled internal statements for as many years as available.
- We request that you submit your application and related materials via email to firstname.lastname@example.org in PDF format. If you cannot submit your application electronically, please send PCG a complete original copy of your application along with the required attachments.
- Deadlines: Applications and required attachments may be submitted any time.
Step 3: Application Review and Underwriting. We will review, conduct due diligence, request credit reports, and engage in underwriting activities only for fully completed applications. You will likely be contacted by PCG or one of its lending partners with follow-up questions and requests for supplemental information as needed.
Step 4: Decision Making. Requests for financing are considered by PCG's Loan Committee. The Loan Committee reviews applications monthly and approves complete applications that meet our evaluation criteria.
Step 5: Loan Closing Process. If approved, you will be contacted by our lending staff to discuss the terms and conditions of a loan prior to issuing a loan commitment letter. After loan closing documents are executed, funds will be wired directly to organization's or closing agent's bank account for disbursement to the borrower.
Step 6: Monitoring and Financial Reporting. Generally, we require monthly interest and/or principal payments throughout the term of the loan. In addition, PCG requires that borrowers submit quarterly financial reports, annual audited financial statements, and an annual social impact report issued by PCG.
For any questions about this process or what PCG requires, please contact Chief Lending and Credit Officer Andrew Baldwin at email@example.com or at (202) 689-8935 x 223.