Loan Closing

Linda Rossow assists with loan closing. Linda, PEDC Staff, and legal counsel prepare most of the necessary closing documents. The following is a list of items needed for Loan closing to proceed. The necessary items vary slightly among projects, dependent upon what is being financed. The bank typically has much of this information in their possession.

Photocopy of First Lien Holder’s documents

Proof of Hazard/Liability Insurance for finance collateral

Proof of Workers Compensation Coverage

Photocopy of Declaration page from Life Insurance Policy

Wire instructions from the bank

Copy of corporate, partnership, or limited liability company documents

List of equipment and fixtures being used for collateral

Abstract of Title on any property being used for collateral

Copy of appraisal

Contact us at info@prairielandedc.com or call us at 1-800-507-9003 for more information on how we can help you.

 

 

Prairieland Economic Development Corporation
1 Prairie Drive, Slayton, MN 56172
Phone: (507) 836-6656
4120 S. Minnesota Ave., Suite 3, Sioux Falls, SD 57105
Phone: (605) 335-7332
Toll Free: (800) 507-9003, Fax: (507) 836-6309
info@prairielandedc.com
© 2008 Prairieland EDC