Revolving Line of Credit and Loan Administration Re Issue Services

The vendor is required to provide revolving line of credit and loan administration re-issue services for include:
- Line of credit
•    Establish a revolving line of credit in the amount of $10,000,000 with the corporation for regional excellence, a non-profit corporation organized under of the internal revenue code (the “borrower”), with an option to adjust based on need, financial strength, and consent from the borrower’s governing board. 
•    The line of credit is to sustain agency programs by loaning money to agency to pay salaries of agency staff in the event of a federal government shutdown or other suspension of funding from the federal or state government. 
•    Agency shall enter into an agreement with the borrower to pay back the amounts borrowed from the borrower on a schedule to be determined by the borrower and the financial institution. 
•    Offer a competitive interest rate, either fixed or variable with clearly defined terms. 
•    Structure a flexible repayment plan that aligns with agency cash flow cycles.
- Loan administration and customer service
•    Assign a dedicated representative to assist with loan administration.
•    Provide customer support for inquiries, transactions and reporting.
•    Ensure transparency in billing, interest accrual, and repayment schedules.
- Budget: $10 million

- Questions/Inquires Deadline: September 18, 2025