A California Corporate Resolution to Borrow from Rural Community Assistance Corporation is a document that is required when a corporation in the state of California wishes to borrow funds from the Rural Community Assistance Corporation (CAC). This document outlines the agreement between the two parties, including the amount of the loan, the repayment terms, interest rates and any other relevant details. There are two main types of California Corporate Resolution to Borrow from Rural Community Assistance Corporation: short-term and long-term. Short-term borrowing is typically used for day-to-day operations, such as purchasing supplies or inventory, while long-term borrowing is used for more significant investments and projects. Both types require the approval of the board of directors, and the corporate resolution must be filed with the county clerk’s office. Additionally, the borrower must provide a personal guarantee of repayment of the loan.
Borrowers Resolution
Description
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