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SECTION 108 LOAN GUARANTEE APPLICATION The Courtyards at La Reunion. 2201 Fort Worth Avenue, Dallas, TX 75211 SECTION 1- GENERAL INFORMATION The Standard Form 424 Application for Federal Assistance
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How to fill out section 108 loan guarantee
How to fill out section 108 loan guarantee:
01
Gather all the necessary documents such as application forms, financial statements, and project plans.
02
Complete the application forms accurately and thoroughly, providing all the required information.
03
Attach all the supporting documents, ensuring they are properly organized and labeled.
04
Double-check all the information provided to ensure accuracy and completeness.
05
Submit the completed application along with the supporting documents to the designated authority or organization.
Who needs section 108 loan guarantee?
01
Local governments and state agencies that aim to fund community and economic development projects.
02
Non-profit organizations seeking financial assistance for infrastructure projects.
03
Tribal governments and organizations interested in financing projects that benefit their communities.
04
Public housing agencies aiming to secure loans for affordable housing initiatives.
05
Qualified entities involved in neighborhood revitalization, job creation, or public facility development.
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What is section 108 loan guarantee?
Section 108 loan guarantee is a provision under the Housing and Community Development Act of 1974 that allows local governments to borrow funds against their future expected Community Development Block Grant (CDBG) allocations.
Who is required to file section 108 loan guarantee?
Local governments or their authorized representatives are required to file section 108 loan guarantee applications.
How to fill out section 108 loan guarantee?
To fill out a section 108 loan guarantee application, you need to provide detailed information about the proposed project, financial data, and demonstrate how the loan will be repaid using future CDBG allocations.
What is the purpose of section 108 loan guarantee?
The purpose of section 108 loan guarantee is to provide local governments with access to upfront financing for projects that will create jobs, stimulate economic development, and benefit low- to moderate-income individuals or areas.
What information must be reported on section 108 loan guarantee?
The section 108 loan guarantee application requires reporting on the proposed project, its expected impact, financial data, repayment plan, and other relevant information as specified by the U.S. Department of Housing and Urban Development (HUD).
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