The successful firm will be responsible for the following: 1. The firm will assist the PEZDC in the preparation of a bi-lingual information package regarding the Passaic Business Loan Project that package will include, but is not limited to: statement of eligibility requirements, an application, and a description of the application process. 2. The firm shall participate in bi-lingual quarterly information sessions in person and/or via the zoom platform to advise Passaic businesses of the scope of the program and the application process. 3. The firm shall have a representative, fluent in Spanish, available in Passaic for up to one day per week as necessary to meet with loan applicants and assist them in their submittal. 4. The firm shall review applications screened by the PEZDC Zone Coordinator for eligibility, and after that review, the firm will communicate with the applicant and obtain additional information needed by the firm to evaluate the application. 5. The firm shall conduct an examination of the application and supporting documents submitted by the applicant, using standard industry methods for underwriting including credit checks and other means to prepare a recommendation to the PEZDC Zone Coordinator regarding the application. 6. The firm shall present any recommendation for a loan to the PEZDC Board for their action. The firm shall be available via zoom or in person to make the recommendation and answer questions from the Board. 7. The firm will work with its own counsel and PEZDC counsel and staff to close and fund a loan. Optional; In addition to the funds provided by the PEZDC, the selected firm may elect to lend funds not exceeding 50% of the loan amount from its own loan sources. In the firm so elects to participate, costs related to the processing of an application will be borne by the firm not the PEZDC. The firm shall provide details on any plan regarding its participation in RFP response
