Application Preparation Requirements

There are 10 steps to applying for a loan through PFA:

1.  Go to How to Apply

 

2.  Click on the links under 1. Please review the following three documents and under 2. Next, review PFA's application requirements

3.  If you wish -- and are  prepared -- to proceed, click on the links under #3 and #4 to fill out the online forms for PFA to review and consider your loan request

4.  Wait for a response from PFA

 

5.  If PFA responds by inviting you to proceed, click on and follow the guidelines for submitting an Initial Financing Request

6.  After its initial review and risk analysis, PFA will schedule a call to discuss your loan request more thoroughly.   If PFA wishes to proceed, it will provide a Letter of Interest (LOI) and ask you to follow its guidelines for submitting a Full Application

7.  Upon submission of the Full Application, PFA will conduct a more thorough risk analysis and due diligence. If, upon completion of this analysis, PFA determines that it wishes to proceed with your loan request, it will issue a Term Sheet for review

8.  Once the Term Sheet has been executed, loan underwriting and final due diligence will be initiated. PFA will, at this point, request some or all of the information, as appropriate to the project and project status, which is included in Attachments 6-9 and Attachments 10-11

9.  If the loan is approved, PFA will issue a Conditional Commitment that lists the requirements that must be met prior to closing

10.  Once these conditions have been met, the loan will go to closing and the first tranche will be disbursed

Please allow:

  • 14-21 days for #4 above, plus the time needed (14-21 days) to assemble and submit the Introductory Funding Request

  • 14-21 days for #6, plus the time needed (60-90 days) to assemble and submit the Full Application

  • 30 days for #7

  • 30 days for #8

  • 14-21 days to complete #9 and move to #10