Metropolitan Atlanta Arts Fund

Overview | Eligibility & Process | Sample Loans | FAQs

How long does the approval/funding process take once an application is submitted?
What is a Cash Flow Worksheet?
What is a Resolution of the Board of Directors?
How do I obtain a Certificate of Good Standing from the State of Georgia?

How long does the approval/funding process take once an application is submitted?
Applications can be submitted at any time. It is critical that a complete application package (with all supporting documentation) be submitted in order to provide quick turnaround. The Arts Loan Fund Advisory Committee will make every attempt to make a decision on the loan within two weeks of receipt of a complete application package. Funds will be disbursed following the submission of an executed Note and Security Agreement.

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What is a Cash Flow Worksheet?
The Cash Flow Worksheet (Word, Excel) is a required document. It requires that you project out your cash receipts and outflows for the 12 month period following the receipt of loan proceeds. Essentially, it shows how you will operate your business, and pay back the loan, during this period. A sample document can be found by clicking here. If you have your own document that you prepare from your accounting software, it is acceptable as long as it shows the required information.

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What is a Resolution of the Board of Directors?
The Resolution of the Board of Directors is a required document, if your Board has not authorized your application to the Arts Loan Fund at a Board Meeting. It authorizes officers of your company to borrow money from the Arts Loan Fund. All members of your Board must sign the Resolution. This can take a fair amount of time.

We have two versions available.The first version includes the specific information regarding the grants used to secure the loan. Some Boards will prefer this document as they are authorizing a specific transaction. The second version, the "preapproved" one, allows your Board to approve the concept of borrowing from the Arts Loan Fund prior to having a specific need. It authorizes certain individuals to supplement the Resolution at the time of application with the information on the specific grant used to secure the loan.

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How do I obtain a Certificate of Good Standing from the State of Georgia?
The Certificate of Good Standing is issued by the Secretary of State and confirms that your organization is in compliance with filings, tax payments, etc.

To obtain the Certificate, go to www.sos.state.ga.us/corporations. On the left side of the page, there will be several options listed. The 16th one from the top is "Order Status Certificates". Click on that one and it will lead you to another web page where you can place your order for the Certificate. There is a $10 charge to obtain the Certificate. You can pay via credit card and immediately print the Certificate.

Learn More About The Loan Fund:

Loan Fund Overview
Eligibility & Process


	Overview \| Eligibility & Process \| Sample Loans \| FAQs How long does the approval/funding process take once an application is submitted? What is a Cash Flow Worksheet? What is a Resolution of the Board of Directors? How do I obtain a Certificate of Good Standing from the State of Georgia? How long does the approval/funding process take once an application is submitted? Applications can be submitted at any time. It is critical that a complete application package (with all supporting documentation) be submitted in order to provide quick turnaround. The Arts Loan Fund Advisory Committee will make every attempt to make a decision on the loan within two weeks of receipt of a complete application package. Funds will be disbursed following the submission of an executed Note and Security Agreement. ^ Back To Questions ^ What is a Cash Flow Worksheet? The Cash Flow Worksheet (Word, Excel) is a required document. It requires that you project out your cash receipts and outflows for the 12 month period following the receipt of loan proceeds. Essentially, it shows how you will operate your business, and pay back the loan, during this period. A sample document can be found by clicking here. If you have your own document that you prepare from your accounting software, it is acceptable as long as it shows the required information. ^ Back To Questions ^ What is a Resolution of the Board of Directors? The Resolution of the Board of Directors is a required document, if your Board has not authorized your application to the Arts Loan Fund at a Board Meeting. It authorizes officers of your company to borrow money from the Arts Loan Fund. All members of your Board must sign the Resolution. This can take a fair amount of time. We have two versions available.The first version includes the specific information regarding the grants used to secure the loan. Some Boards will prefer this document as they are authorizing a specific transaction. The second version, the "preapproved" one, allows your Board to approve the concept of borrowing from the Arts Loan Fund prior to having a specific need. It authorizes certain individuals to supplement the Resolution at the time of application with the information on the specific grant used to secure the loan. ^ Back To Questions ^ How do I obtain a Certificate of Good Standing from the State of Georgia? The Certificate of Good Standing is issued by the Secretary of State and confirms that your organization is in compliance with filings, tax payments, etc. To obtain the Certificate, go to www.sos.state.ga.us/corporations. On the left side of the page, there will be several options listed. The 16th one from the top is "Order Status Certificates". Click on that one and it will lead you to another web page where you can place your order for the Certificate. There is a $10 charge to obtain the Certificate. You can pay via credit card and immediately print the Certificate. Learn More About The Loan Fund: Loan Fund Overview Eligibility & Process
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