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Forward Community Investments A Community Loan Fund 211 South Paterson Street, Suite 160, Madison, WI 53703 608.257.3863 or 866.687.1468 PROMISSORY NOTE (Periodic Interest Payment) FOR VALUE RECEIVED,
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How to fill out promissory note - cdfifund

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How to fill out promissory note - CDFI Fund:

01
Start by obtaining a promissory note template specifically designed for CDFI Fund purposes. This template can be obtained from the CDFI Fund's official website or other authorized sources.
02
Fill in the necessary information at the top of the promissory note, including the names of the borrower and lender, their contact information, and the date of the agreement.
03
Clearly state the principal amount being borrowed in the designated section. This is the amount that the borrower agrees to repay to the lender over time.
04
Specify the interest rate that will be applied to the borrowed amount. It's important to accurately calculate and include this information in order to determine the total amount to be repaid.
05
Determine the repayment terms, such as the frequency (monthly, quarterly, etc.) and duration of payments. State the due dates for each installment and any late payment penalties that may apply.
06
Include any additional terms and conditions that both parties agree to, such as prepayment options, default consequences, and rights to transfer the promissory note.
07
Ensure both the borrower and lender carefully review and understand the terms of the promissory note before signing it. Seek legal advice if necessary.
08
Have both parties sign and date the promissory note, indicating their agreement to its terms. It's recommended to have each signatory retain a copy of the fully executed promissory note for their records.

Who needs promissory note - CDFI Fund?

01
Small business owners: If you are a small business owner seeking financial assistance from a Community Development Financial Institution (CDFI) Fund, you may be required to sign a promissory note as part of the loan agreement.
02
Non-profit organizations: Non-profit organizations that are seeking funding or grants from CDFIs may need to complete a promissory note to establish the terms of repayment.
03
Individuals looking for community-oriented financing: Individuals who are part of a community development project or seeking financial support from CDFIs for community-oriented initiatives may have to fulfill the requirements of signing a promissory note.
It's important to note that the specific requirements for needing a promissory note within the CDFI Fund may vary depending on the nature of the funding being sought and the policies of the individual CDFIs involved.
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A promissory note - cdfifund is a legal document that states a borrower's promise to repay a specific amount of money to a lender at a specified time.
Borrowers who have received funding from the cdfifund are required to file a promissory note.
To fill out a promissory note - cdfifund, borrowers must provide information such as loan amount, interest rate, payment terms, and borrower's contact information.
The purpose of a promissory note - cdfifund is to outline the terms and conditions of the loan agreement between the borrower and the cdfifund.
Information such as loan amount, interest rate, payment schedule, borrower's contact information, and terms of repayment must be reported on the promissory note - cdfifund.
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