Below are links to samples of BCPL loan documents. The samples are for a village, and there will be slight differences in the application for each type of municipality.
These samples are for review only, as BCPL requires each borrower to use the custom documents we produce for your loan. Approval by your board/council of a loan resolution other than the exact resolution provided by BCPL will result in loan denial.
BCPL requires that the original paper documents of the Loan Application and Certificate of Indebtedness are returned for processing. All other paperwork can be sent by fax or email.
Loan Application – Mailed following receipt of Worksheet/Application Request.
Preliminary Approval Letter – Mailed following an internal review of the application. If the application has been properly completed, this letter should be expected within a few days following receipt of the application by BCPL.
Board Approval Letter – Mailed upon final approval of the loan by the BCPL Board, which meets on the 1st and 3rd Tuesdays of each month. Borrowers have 4 months from our Board's approval date to draw funds.
Request for Loan Disbursement – The Borrower sends this document to BCPL to begin the funding process. Funding can normally occur within 7-10 days following BCPL receipt of this request.
Certificate of Indebtedness – This BCPL form of Promissory Note is mailed to borrower following receipt of the Request for Loan Disbursement. This document is signed by the appropriate parties and returned to BCPL. BCPL can normally fund the day following receipt of this document.
Method of Disbursement – This form tells BCPL how and when you would like the loan to be funded.
Amortization Schedule – Mailed to the borrower following funding.
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