Steps to Financing

1. Complete an Interest Survey

• Submit basic project description to the finance program coordinator.
• Projected repayment schedules can be prepared via request.

2. Reimbursement Resolution, if needed

• The resolution is needed when project expenses are incurred prior to loan closing.
• A governing body will need to pass a reimbursement resolution.

3. Complete Finance Program Application

• Obtain an application and return it completed to the finance program coordinator.

4. Obtain Credit Approval

• Applications are forwarded to our credit provider for review.
• Credit approval is needed to qualify for a loan from the MMUA Finance Program.

5. Become a Member of MCMU

• Resolution is prepared by the MCMU bond counsel.
• A governing body will need to pass a membership resolution to join MCMU.

6. Bond Resolution

• Documents are prepared by the MCMU bond counsel.
• A governing body will need to pass a bond resolution.

8. Loan Closing

• Documents will be mailed out prior to closing date and need to be signed and returned.

10. Submit a Draw Request

• Fax a draw request to the Trustee for the funds needed.
• Remaining funds will earn interest, in the borrower’s favor, until they are withdrawn.