1. Provide a Line of Credit a. Establishing a revolving line of credit in the amount of $1,000,000, with an option to adjust based on need, financial strength and consent from ETCOG governing Board. b. Offering a competitive interest rate, either fixed or variable with clearly defined terms. c. Structuring a flexible repayment plan that aligns with ETCOG’s cash flow cycles. 2. Terms & Conditions a. Defining collateral requirements, if applicable. b. Specifying any fees, including origination fees, administrative costs and penalties for early repayment, or other conditions. c. Outlining reporting documentation requirements. d. Allowing for electronic funds transfers and online account management. 3. Loan Administration & Customer Service a. Assigning a dedicated representative to assist with loan administration. b. Providing customer support for inquiries, transactions and reporting. c. Ensuring transparency in billing, interest accrual, and repayment schedules. 4. Compliance & Legal Considerations a. Ensuring compliance with federal, state and local regulations applicable to public sector borrowing. b. Providing required disclosures and documentation.
