Orange California Corporate Resolution for IDL Loan refers to a legally binding document signed by the board of directors or the managing members of a corporation in Orange, California, to authorize the application and acceptance of an Economic Injury Disaster Loan (IDL) offered by the Small Business Administration (SBA). This resolution serves as an official confirmation of the corporation's intention to pursue financial assistance through an IDL and outlines the specific terms and conditions for acquiring and utilizing the loan funds to overcome economic hardships caused by disasters or emergencies such as the COVID-19 pandemic. The Orange California Corporate Resolution for IDL Loan typically includes the following key details: 1. Identifying Information: The resolution includes the legal name and address of the corporation applying for the IDL loan, along with its federal tax identification number (TIN). 2. Authorization of IDL Loan Application: The resolution states that the corporation's board of directors or managing members have duly authorized the submission of the IDL loan application on behalf of the corporation. 3. Designation of Authorized Representative: The resolution designates an individual within the corporation to act as the authorized representative responsible for completing the loan application and interacting with the SBA regarding the loan process. 4. Loan Amount and Purpose: The resolution specifies the maximum loan amount the corporation intends to apply for, outlining the business purposes for which the loan funds will be utilized, such as payroll expenses, rent, utilities, and other working capital essentials. 5. Loan Usage Restrictions: The resolution may also include any restrictions imposed by the corporation on the usage of the loan funds received and ensure compliance with SBA guidelines and loan conditions. 6. Board Approval: The resolution confirms that the board of directors, or the managing members, have reviewed and approved the draft resolution, agreeing to its content, and have authorized its execution before a notary public or other authorized personnel. It is worth mentioning that while the overall structure and purpose of Orange California Corporate Resolution for IDL Loan are similar, there might be variations or additional requirements specific to certain industries or corporations in Orange, California. The specific types or variations of Orange California Corporate Resolution for IDL Loan could include resolutions for professional service firms, retail businesses, manufacturing companies, healthcare providers, and more, each tailored to the unique needs and circumstances of the applying corporation.
Orange California Corporate Resolution for EIDL Loan
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How to fill out Orange California Corporate Resolution For EIDL Loan?
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