How to Apply for the URLF
BEFORE WE START: First, double check that you are an Unreasonable entrepreneur that has completed the Institute. If you aren’t, you will need to apply to become an Unreasonable entrepreneur and make it through the Institute before qualifying for loans from this fund! Also make sure you have read the rest of the eligibility and lending policies by clicking here before you move on to the next steps.
How to Apply
- Fill out and submit the application form. The application form can be accessed by clicking here.
- Create a due diligence folder for the Investment Committee. Applicants will be required to set up a Google Drive or Dropbox folder of due diligence documents for the loan committee. Please find a guide for how to set up a due diligence folder and what to include by clicking here. The following documents will be required to be in the due diligence folder:
- Board resolution to borrow
- Legal documents (Memorandum and Articles of Incorporation, Certificate of Incorporation)
- Profiles of all the co-founders and key employees
- Business’ strategic plan, including at least a page on the loan objectives and use of funds. Applicant should clearly show how they will use the funds and generate revenues that can be used to pay back the loan.
- 1-year of historical financial statements and 2-years of projected financials clearly demonstrating sufficient cash flow to meet the borrower’s objectives and to repay the loan
- Additional information may be requested by the Investment Committee
- Send an email to firstname.lastname@example.org with a link to your due diligence folder. Once we are able to access your due diligence folder, we shall begin reviewing your application.
The Loan Review Committee shall have sole authority to approve URLF loans. Once all of the documents are submitted,the committee will review the application and make a decision within 1 month. You will be informed of this decision as soon as it is made.
If you have further questions, please contact Ivan, our VP of Finance and Administration by clicking here.